- We won't declare mission accomplished on inflation.
- The labour market is strong, want to keep it that way.
- Fed policy is still in a net tight position.
- An uptick in unemployment is a bigger risk than inflation.
- There is lots of ambiguity around what the neutral rate level is.
- I expect smaller steps going forward for the Fed.
- A 50 bps rate cut was a meaningful step to get the process moving.
- The FOMC meeting had active deliberations over Fed rate cut.
- A 25 or 50 bps rate cut, both would have been reasonable.
- The election is not a factor in Fed rate decision.
- There's lots of uncertainty abour where the Fed will cut to.
- I would love to get back to 3.5% unemployment rate.
- The labour market has not been driving inflation.
- Job market a lousy forecaster of inflation.
- Penciled in 50 basis points more cuts in 2024.
Fed's Kashkari