• Fed will need to tighten somewhat further to lower inflation
• Fed policy less restrictive compared to history.
• Raising rates again will reduce risk of more action in future
• Fed rate hike’s have been moderating economic activity
• economy has proved stronger-than-expected.
• Supply chain disruptions have eased.
• Inflation stubbornly high. Installed progress on core prices.
• Fed closer to end of tightening campaign and then it’s a start.
• Core inflation gains to high, and to broad-based.
• Wages pressures remain too high to get inflation back to 2%.
• Demand for labor still outstripping supply.
• Business leaders fears of a recession have declined