- We still see a very strong labor market
- and not as much moderation in inflation as we would like
- Soft landing is unusual to accomplish
- There is a lot of data between now and the next FOMC meeting
- We expect to continue raising rates
This is an interesting and hawkish line that's one to watch. Tomorrow's CPI report is huge but if this line about 'not as much moderation' is repeated by others, it could be a talking point.
