- Right now everything 'seems to be calm' in the banking system
- Global spillovers from expected from coordinated central bank tightening have to really materialized
- It's still not clear that recent bank failures have had a material effect on credit conditions
- Monetary policy should not be altered due to 'ineffectual management at a few banks'
- It's the Fed's job to use monetary policy to fight inflation; the job of bank leaders is to manager interest rate risk
There's nothing on the June meeting yet or outlook for July but you can see the hawkish bent from the banking comments.
