Fed’s Bullard (Non-Voter): Monetary policy in better shape following rate hikes - online essay
- Judging level of restrictive rates in FOMC task
- With both headline, core PCE inflation have declined from 2022 peaks they remain too high; An encouraging sign that inflation will decline to 2% comes from market-based inflation expectations which had moved higher in prior 2 years but have now returned to levels consistent with 2% inflation target
- Prospect for additional disinflation good, not guaranteed
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