- Central banks more gradual interest rate path should limit harm to the economy
- it makes sense for Fed to steer more deliberately on rates now in context of policy lags
- studies estimate it could take six – 12 months before pullbacks in demand quiet the rate of inflation
- last two months of US inflation reports step in the right direction, however median stayed high
- Fed is still resolute on inflation, needs to stay on the case until inflation sustainably back to 2% goal
- Fed cannot repeat stop – start cycle of the 1970s in inflation in battle
