Fed's Harker: GDP continues just as we expected

He adds:

• GDP running slightly above trend
• Labor markets feeling really tight
• Best estimate shows GDP down 100bp this quarter
• GDP will bounce back from the hurricanes in 4Q
• We are starting to see some wage pressures
• Low growth in wages may be due to shift in who is employed, 
• We are running below our 2% inflation target
• Inflation is the one area that gives me pause
• For the average American low inflation is not a problem but there are risks for monetary policy. 
• Our work showing we're overstating inflation is persuasive
• Pausing on the Fed Funds rate path is appropriate
• Today's PCE print was weak