- The economy is slowing somewhat
- Inflation is very high and the Fed is a long way from where it needs to be
- Housing is moderating, this is not a surprise
- Sees a notable drop in inflation on the way
- High inflation is a global issue
- Supply chain disruptions are easing quickly
He lays out some of the reasons that inflation should come down but there's no hint of a pivot here. The Fed wants to see it happen.
