Former Atlanta Fed Pres. Dennis Lockhart is on CNBC and says:
- Fed likely to pause
- Fed will likely be more neutral
- Longer rates are taking on the expectations of a soft land and benign view of the future
- I expect the Fed to stay higher for longer, but expect a transition by the end of the year
- On core inflation, the narrative is playing out, but not on a path to 2% objective. Will keep the Fed cautious.