On August 22, Philadelphia Fed President Harker said on Thursday that he supports a rate cut in September as long as the data performs as he expects. In an interview, Harker said "To me, if there are no surprises in the data we get between now and then, I think we need to start the rate-cutting process." Harker said the size of any particular move is less important than how big the overall rate cut is, noting, I think a slow and methodical rate cut is the right approach. He said the business people he spoke to called for predictable action and didn't want a rate cut to resemble the aggressive rate hike that will raise rates from near zero in the spring of 2022.