“The Fed had to wait until inflation strengthened for interest rate hikes.”
– Despite the tight employment market, weakening inflation pushes itself out of the idea of raising interest rates
– The risk of not raising rates quickly enough, ‘will not seem broad’
– The Fed may have misjudged the rise in inflation
– Monetary policy, only in a way compatible
– He wanted the Fed to announce the date of starting to narrow down the blindfold.