- There's still more data to come before next FOMC meeting
- Inflation is far too high but moving down
- Policy is in a good place, is data dependent
- We are seeing movement in the right direction for the economy
- It's an open question is mon pol is restrictive enough
- The latest consumer spending data has been strong
- Expects unemployment rate to rise to low 4% range
Fed pricing is just 7% for the Sept meeting but close to 50/50 for Nov 1.