- The full effects of our policy have yet to be felt
- Nearly all policymakers view some further rate hikes this year as appropriate
- The labor market remains very tight
- Inflation has moderated somewhat since the middle of last year
- Inflation still has a long way to go
- If the economy evolves as expected, the median of participants sees 5.6% fed funds target at year-end
- We will continue to make our decisions meeting-by-meetin
The US dollar rose on the Fed statement but gave a bit back in the opening statement. From my perspective, he said almost nothing in the opening statement.