• Economic deceleration will not be as bad as expected a few weeks ago
  • But there is still high probability of a recession
  • Further rate hikes will depend on upcoming data

It's just one data point and suddenly, the economy is healing again. Sheesh. They can be thankful of the milder weather in October and November so far, otherwise the energy crunch could've been much worse. In any case, someone ought to remind him that there's a difference between an inflation peak and a plateau.