- There is still some ways to go to get to restrictive monetary policy
- Fed is following data very carefully, thinks that "we will get it right"
- Q2 slowdown was more concerning than Q1
- We're going to move inflation back to 2% over time
There isn't anything here from Bullard that hasn't already been said but from the headline remark, he is alluding to at least a 50 bps rate hike in each of the final three FOMC meetings of the year. The Fed had toned down its aggressiveness after reaching neutral and markets will watch for any recessionary signals that could further dampen the mood in that sense. For now though, policymakers are adamant that they can keep on the path until year-end and that a 'real' recession is not on the cards.