- Doesn't see inflation returning to target until 'some time in 2027'
- There is a lot of uncertainty about the economy
- Says he moved dot to one rate cut this year from two
- Forecasting is more challenging than it's been in the past
- I'm hearing more concern about the path of the economy, but data hasn't shown that yet
- Is consumer sentiment going to be a leading indicator or not, something I'm watching closely
- Business leaders think prices will go higher but they're also bullish on sales
- We hear from business that employment is not a stress for them, and finding workers
- I will worry about rising medium-and-long term inflation expectations
- Most businesses I speak to don't see the kind of slowdown that's in the GDPNow forecast
The comment about the shift in the dot and pushing out hitting target isn't a great sign and highlights a subtle recent hawkish shift. That said, it's all about the data that's coming in and Bostic and everyone else is watching that.
