Patrick Harker, Interview: Wharton Business Daily

“So at this point, we do need to take action. We need to take action. I am supportive of our next meeting taking action. That said, I’m still on the camp of the 25 basis point increase and continuing to do 25 basis point increases because it’s really remember a three-prong approach. We’re stopping the asset purchases, that will happen. We start raising the fed fund rate, and then when we’re sufficiently away from zero, we can argue what that is, 100 basis points, 125 basis points or less. We start reducing the size of our balance sheet. And that is an active debate in the FMOC right now of how to do that.”