- Fed policy is not yet restrictive but it will be soon with more hikes
- Inflation to moderate in 2023
- Fed action with the prospect of more hikes is helping dampen inflation
- Inflation expectations consistent with Fed's 2% target
- US GDP likely moderating to potential of around 2%
Bullard is typically hawkish but he's not this time. The market has taken notice, with the dollar softening and stocks finding a bid.
