Philly Fed's Patrick Harker spoke in an interview with the WSJ
- Previously projected two rate hikes
- Cites stronger inflation for the reason of changing his forecast
- "We saw some firming of inflation"
- Says that he places greater emphasis on inflation data than on fiscal policy
- Risk of increased trade tariffs presents one source of uncertainty to projections and policy
The full transcript can be found here (may be gated).
Do note that Harker isn't a voting member of the FOMC board this year. Well, his comments seem aptly timed as the Fed's preferred inflation measure (PCE deflator) will be out later today at 1230 GMT.
A hawkish tilt on the comments, but it's hard to look past the fact that he isn't a voting member this year - though he still does participate in the meetings and gives his view.
