- Policy is in a very good place
- Risk of over tighten and under tightening are balanced
- News on inflation has been fairly good
- It is far too early to declare a victory
- Not ready to say what that next move will be.
- Policy is significantly restrictive
- Not sure policy restrictive enough at current settings
- Need to watch data to drive next rate decision
- "Data dependent" is about how you putting all the reports together
- I don't want to discount that is in a good place for policy
- I don't know if we are sufficiently restrictive
- Unsure if inflation will come down where we need it to
- Outlook for economy is positive.
- Should not be surprised about the volatility in the bond market amid uncertain outlook
- Financial conditions are tighter than they were, they are remaining tight which is helping to bring balance back to the economy
- If financial conditions ease more Fed would need to take note
- If inflation doesn't ebb further we would likely have to tighten again
- Sufficiently restrictive policy is something that clearly lowers inflation
- Has open mind about where neutral rates now stand
- It's hard to know why yields are rising.
- Resist temptation to think one thing is driving the economy
- Anecdotal data important for forward-looking policy decisions
- Aspiration to achieve a soft landing while controlling inflation
- For me that aspiration looks like a little bit of low potential growth
- Does not see economy falling into a deep downturn
Comments from Daly were largely neutral and noncommittal
