- We have to take the steam out of inflation, we can't fine-tune
- I don't think 100 bps is necessary
- No need to push rates to 6% as the Fed did in 1995
- Notes 'tremendous consensus' among policymakers on the path forward
I think this comment about 'fine tuning' is important because it indicates the Fed isn't interested in pausing just because stock markets are struggling. Now whether they can sustain that for another 6 months is doubtful.
