Fed’s Harker also saying he expects 50bp Federal Reserve rate hikes in June and July

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Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia

• I expect 50 bps rate
  hikes in June and July
• after that I anticipate a sequence of ‘measured’ rate hikes until we
  are confident inflation is moving toward 2%
• sees 3% US. GDP
  growth this year, job market tight through 2022
• inflation is a
  scourge, and an urgent problem
• elevated energy
  prices could be with us for a while

more to come

50bps at the next two meetings is being repeated by many Fed officials.