- I've got to keep a possible rate hike on the table
- Still a ways to go on inflation
- We've made really good progress on inflation
- Pricing power is not nearly as clear as it has been
- I'm hearing much less about businesses being able to pass through prices increases to consumers
- I expect inflation to be in the high 3s at year end
- I don't think we will cut rates this year but the scenario for a rate cut would be for inflation to come down quickly this year
The market has already voted on the June FOMC meeting and there's a clear message that rates aren't going up.
I like that he put up a number for his inflation forecast. I think we'll be in the high 3s sooner than year end.