- Inflation is still too high
- We should be cautious, patient, resolute
- Policy is restrictive enough to bring inflation to 2% in a reasonable timeframe
- I am not for easing policy any time soon
- Should inflation unexpectedly climb, I would support more tightening
He doesn’t sound like he is in a hurry to tighten further and this sentiment is arguably shared by most Fed policymakers at the moment. It seems that the terms ‘appropriately restrictive’ may be the new buzzword.