- We have to get inflation back to 2%, period
- We must get milder monthly inflation numbers going forward
- Talk of raising the inflation target is dangerous
- I think we are mildly restrictive
- Neutral is 100-150 basis points lower
- Before we got some of these shocks, I think we were on the path to lower inflation
- I’m ok with moving to a better spot, eventually rates can move down a lot
- With inflation over target for 4.5 years, we need to be careful with getting aggressive
- Labor supply is shifting due to immigration
He’s been on the more-hawkish end of things lately but sounds like he’s happy to let the market price in 25 bps at every meeting for awhile.
This article was written by Adam Button at investinglive.com.