Federal Reserve Hack: Can't explicitly support 25 or 50 basis point rate cuts, as long as the data is not unexpected, it needs to start the process

Mr. Harker said it was impossible to say whether to support a 25 basis point or 50 basis point rate cut, that more data was needed and would not comment on the market's pricing of the Fed's actions, which were more important than their magnitude. He would support a rate cut in September as long as the data met his expectations.
"For me, if there are no surprises in the data we get between now and then, I think we need to start the process of cutting rates," Harker said in an interview. Harker said the size of any particular move is less important than the overall rate cut, noting: "I think a slow, methodical rate cut is the right thing to do." He said the business people he talks to are calling for predictable action and don't want the rate cut to be the same as the aggressive rate hike in spring 2022 that will raise rates from near zero. (Jin Ten)