- Credibility of the inflation targeting regime is at risk
- More rate rises to come in future meetings
- Strict comparisons with Volcker are inappropriate now
- US policy rate now arguably in restrictive territory
- Labor market is very strong, this gives us room to take care of inflation as soon as we can
- Sees likely peak of rates at around 4.5%, says Fed likely have to stay there for some time
There's no sign of a pivot in these comments. His comments are out about 12 minutes early.
