Fed's Kugler
- How much we cut will be a question we continue to assess as more data comes in
- It's not an answer we can give today
- It depends on whether it is from disinflation or rapid deterioration of the labor market
- Remains concerned about housing. Import and wages are still higher than productivity
- Have to see that continued progress on wage moderation
- We certainly need to be convinced that we are not going to put in danger all the great progress made on inflation