- Not ready to say if Fed needs bigger rate rise at next FOMC meeting
- Does not want to surprise markets with Fed action
- Can't be complacent about getting inflation back to target
- Expects growth to slow appreciably this year
- Doubts need to cut rates later this year
The headline comment here shows the incremental change from Mester, and likely from other Fed members. Will they be patient? Or will they feel the need to hike more?