- The labor market has proved to be resilient
- We want to get an idea of what the tariff policies will be
- Things are in a good place
- It's hard to speculate what the Fed will do
- If the economy weakens more than expected it would call for deeper rate cuts
- The details on tariffs do matter for the economic impacts
- Trade policies are very-much in flux
- The US consumer never lets us down
- There was some front-loading ahead of tariffs
- Monetary policy is modestly restrictive right now
Earlier he said:
- Markets appear convinced Fed will get inflation back to 2%
- Markets are very focused on downside risks right now
- The factors still keeping the long run neutral rate low are still in place
- Expects growth to slow considerably, inflation and unemployment to be higher
- Expects growth to slow considerably, inflation and unemployment to be higher
