- Eventually will need to cut rates
- Fed rate hike not part of baseline view for the outlook
- Fed policy making progress working out economic imbalances
- Core services ex-housing inflation falling faster than expected
- No need to change monetary policy in the very near term
- Shelter inflation slower to come down than expected
- Recent inflation setbacks are not a surprise to the Fed
These comments are more dovish than I would have expected.
This article was written by Adam Button at www.forexlive.com. Source