Fed's Mester
- Mon pol is currently in a good place given outlook
- Expects Fed will be able to lower rates gradually
- Inflation may prove to be more persistent this year
- Biggest mistake would be premature Fed rate cuts
- Fed has luxury of holding steady while taking in more data
There's been a persistent change in Fed language where they say cuts are possible 'some time this year' versus saying 'around mid-year' before. Take that for what it's worth but June is 93% priced in.