- US economy is strong and consumers are continuing to spend
- Labor market remains strong
- Inflation is too high
- Fed is working to get inflation down without stalling economy
- Not concerned about over-cooking things on rate hikes
- We are dialing back support to the economy
- July FOMC will be "a good discussion"
- UMich data on consumer inflation expectations was 'a good thing'
- We're starting to see green shoots of hope forming in the housing market
- I don't have a recession in a high spot on the list of possible outcomes
- Now it's about getting inflation down
- Campsites and restaurants are packed
We heard from Daly already late Wednesday when she said her most favoured response is a 75bp rate hike but that 100 bps was possible.