- It will likely be appropriate to raise rates further and hold them at restrictive level for some time
- Inflation remains too high
- Sees risk that high energy prices could reverse some of the recent progress on lowering inflation
- Frequency and scope of recent data revisions complicates task of projecting how economy will evolve
- Expects progress to be slow on inflation given the current level of monetary policy restraint
- Remains willing to support rate increase at a future meeting if data indicates progress on inflation has stalled or is too slow to return it to 2% in a timely way
- Regulators seem to be engaging in ‘heavy-handed’ supervision of banks
Heavy-handed supervision? Does she remember what happened in March?
As for her comments on monetary policy, I they’re nothing new. She’s been hawkish for awhile and the rest of the FOMC appears to be headed in her direction.