Favors a 25 basis point rate hike at the upcoming meeting and continued policy tightening beyond that
We have made progress is still considerable way to go toward 2% inflation goal
By early December that the policy stance was a slightly restrictive, time to slow, but not all the rate hikes
Recent CPI report good news, but don’t want to be head fake
Still cautious about inflation Read this Term
Expected continued slowing of US economy this quarter is desirable in a fight to lower inflation
Ample evidence that fed rate hikes are dampening demand in business sector.
Goal is not the whole economic activity, will be watching to see how moderation continues.
Expected consumer spending to moderate this year, supporting job at one of maintaining progress on inflation.
Labor market is strong, tight in face of higher rates, allowing fed to focus on lowering inflation. Waller sees encouraging signs of wage moderation, need to see more evidence of slowing.
Still optimistic that a soft landing as possible
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