- Won't decide until meeting on the proper path of policy
- Have seen 'some attenuation' on inflation but Fed needs to remain 'resolute' in fighting high prices
- Says he's firmly in the 25 bps camp for rate hike pace and says policy should begin to bite in the spring
- Considers risks now roughly balanced
- Business contacts demand is strong and that concerns are more macro than on their business
- Fed does not "do more than we need to"
- Businesses say they are expecting to ratchet down the pace of wage hikes, but still plan to add workers
- Will need to have 'some kind' of slowdown in labor market but not 'catastrophic'
The headline sounds hawkish here but the details are the opposite and risk trades like it.
