Nothing has happened in the last 2 months to make me think that the "golden path" is not attainable
I don't like to speculate on the future Fed action
It does feel like we are in a period where conditions continue to go as they have over the last couple of months, our argument will go toward how long do we keep rates at the same level
We have a couple of good months on improvement in inflation
There is still a long way to go
So far it seems like credit tightening has not materialized from banking issues
If the longer rates are going and it gives some constraint to the economy, maybe that is okay
Rise in bond yields may not be issue for economy
We can't observe what the legs are we just have to wait and see
We haven't seen consumer spending deteriorate like you'd normally see given the rise in yields
Some part of the consumer spending might be due to the pent-up demand from the supply constraints
Inflation is really not down to 3%. There is energy that can move around a lot.
I am in comfortable of declaring victory with inflation near 3%
I don't think you can change the inflation target until you hit it. I think you have to go all the way.
I am willing to be patient in getting to a 2% target
