- Ideally you would like to get to peak fed funds this year
- Then as you get tangible evidence that inflation is retreating, you could reduced policy in late 2023 or 2024
- I'm not a believer in wage-price spirals
- There's no reason we can't continue to have a good labor market
- Better to front-load in order to control inflation
The cause of inflation is central bank policy and it's the job of the central bank to bring it under control.
