- Cooling inflation means lowering growth, higher unemployment
- Current levels of inflation remain far too high
- Underlying inflation levels are also too high
- Expects core PCE inflation to hit 3% this year
- Will take several years to get inflation back to 2%
- Expects unemployment to rise to 4-4.5% over the next year
- Jobs market 'extremely tight', wage gains are elevated
There's a slight hawkish bent to these headlines but also note the 'several years' portion which shows the Fed may want to hold rates at high levels rather than keep hiking. I think that's going to be the next big debate.
