Talk may be cheap, but the steady stream of hawkish comments from Fed officials in recent days has convinced the crowd that a rate-hike announcement is likely at the central bank’s monetary policy meeting scheduled for Mar. 14-15.

The probability of policy tightening this month has jumped to 78%, based on Fed funds futures via the CME Group’s FedWatch data. for yesterday (Mar. 2). That’s up from a 31% estimate on Tuesday, when The Capital Spectator reviewed the evidence for deciding if the Fed would lift current 0.50-to-0.75% target range to 0.75%-to-1.0%.

Nothing is certain when it comes to anticipating central-bank decisions, but it’s hard to ignore the relentless drumbeat of hawkish remarks from Fed officials this week. Here’s a summary:

? New York Fed President Bill Dudley on Tuesday said “I think the case for monetary policy tightening has become a lot more compelling.” He explained that “most of the data we’ve seen over the last couple months is very much consistent with the economy continuing to grow at an above-trend pace, job gains remain pretty sturdy, inflation has actually drifted up a little bit as energy prices have increased.”

? Dallas Fed President Robert Kaplan on Tuesday said raising rates “sooner rather than later” is warranted because “we’re now much closer to meeting our employment and inflation objectives.”

? Philadelphia Fed President Patrick Harker said on Tuesday that “I see three hikes as appropriate for 2017, assuming things stay on track.”

? Fed Governor Lael Brainard said on Wednesday: “Assuming continued progress, it will likely be appropriate soon to remove additional accommodation, continuing on a gradual path.” She reasoned that “we are closing in on full employment, inflation is moving gradually toward our target, foreign growth is on more solid footing and risks to the outlook are as close to balanced as they have been in some time.”

? Fed Governor Jerome Powell yesterday advised that “the case for a rate increase in March has come together” and he anticipated that three rounds of policy tightening would be necessary this year.