Tom Barkin, Interview: Yahoo Finance

“Well, you’ve explained why at least we think our job is hard, because there is a lag. Financial conditions did move pretty rapidly when we started announcing a new path that was helpful. And you’ve already seen impact in places like the housing market, where mortgage rates are up and mortgage traffic… I’m sorry, home purchasing traffic has been somewhat down.”

“And so, we are getting that kind of impact. We’ll get more. Remember, we started this about six months ago, and now’s the time we ought to be seeing it hit in the rest of the economy. But as I said earlier this morning, Brian, we’ll also want some help on supply chains and we’ll need some help on that commodity side.”

When asked about the chance of a 75bps rate hike: “Well, I’m not going to prejudge it. We’ve got a pretty important jobs report, as you know, coming on Friday. We’ve got a CPI report coming in a couple weeks. Both of those are pretty relevant to my view on the economy, and of course, through that, on what the right rate path going forward should be.”