- We are united in delivering on both sides of our mandate
- We are not completed with our fight against high inflation
- In my book, 3.4% is a reasonable place for us to get to on rates by year-end
- Sees 'restrictive' at 3% not 2.5%
- NOthing in the lines of sight right now that indicates the soft landing outcome is not possible
The market is priced for 3.45% a year-end so there's nothing new there. But next year the implied probabilities in Fed funds, sees the FOMC exiting 2023 at 3.0%.
