• Central banks need to be resolute in acting to bring inflation down
  • Policymakers cannot be complacent about a rise in longer-term inflation expectations
  • Current inflation situation is a very challenging one
  • Our policy communications are important for keeping inflation well anchored

Nothing new really by Mester. As mentioned earlier, markets have already more or less priced in a 75 bps rate hike next month and it's tough to see the Fed go beyond that.