Fed's Harker Says Let Rates 'Stay Up There' and Play Out

The transcript discusses economic strategies, focusing on inflation control and the Federal Reserve's approach. It highlights the importance of methodical actions, the impact of global events like the Ukraine situation, and the volatility of energy and food prices. The speaker emphasizes the need to control inflation without harming the economy, considering potential recession risks. The discussion also covers the concept of neutral and restrictive rates, aiming for a balance to ensure economic stability.

What does the speaker mean by 'glimmers of hope' in the context of inflation?

What is the significance of the number 3.4 mentioned by the speaker?