- Inflation is too high and the Fed needs to lower it
- There's no historical context for what US is facing today
- The source of both higher aggregate demand and hiring, other supply difficulties is rooted in the pandemic
- 75 bps was a 'big move' and Fed wants the transition to be order.
- Moving 'too dramatically' could undermine positive aspects of economy and add to uncertainty
That's a pretty strong indication from Bostic that he doesn't want to see 100 bps. The implied odds are down to 25%.
