Markets Should Prepare for Persistent Inflation and Continued Rate Hikes

Philadelphia Fed President Patrick Harker told CNBC that the decision on whether to tighten 50 or 75 basis points depends on the next inflation reading on Sept. 13. “I think we have to recognize that a 50 basis point move is still a substantial move, so whether it’s 50 or 75 I can’t say right now, but let’s not think that 50 isn’t a substantial move,” Harker said.