- Our aim is to have growth moderate
- There are pathways to get back to 2% inflation with a strong labor market but the pathways have gotten narrower
- Households are overall in a strong state and the same is true for businesses
- Markets since last autumn have been pretty well aligned with where the Fed is heading
- Is there a risk we could go too far? Yes, but it's not the biggest risk
- A bigger risk is failing to restore price stability
- The way to accomplish lower inflation is to bring down growth
