• When we say 2% is inflation goal, we mean 2%
  • We're resolutely committed to restoring inflation to the 2% level
  • It's not on the table now to change the inflation target

Of course when inflation was running higher, the Fed said that they would have to see inflation stay above 2% for an extended period time before they started to tighten policy. That didn't go too well as the Fed was forced to raise rates much more quickly.

Nevertheless with growth still solid (the Atlanta Fed GDPNow estimate for Q1 growth is 2.8%), more more Fed officials are thinking that they are in no big hurry to cut rates.