- Talking on CNBC at Jackson Hole
- Feels confident about a soft landing
- Nothing has happened in the last 2 months to make me think that the “golden path” is not attainable
- I don’t like to speculate on the future Fed action
- It does feel like we are in a period where conditions continue to go as they have over the last couple of months, our argument will go toward how long do we keep rates at the same level
- We have a couple of good months on improvement in inflation
- There is still a long way to go
- So far it seems like credit tightening has not materialized from banking issues
- If the longer rates are going and it gives some constraint to the economy, maybe that is okay
- Rise in bond yields may not be issue for economy
- We can’t observe what the legs are we just have to wait and see
- We haven’t seen consumer spending deteriorate like you’d normally see given the rise in yields
- Some part of the consumer spending might be due to the pent-up demand from the supply constraints
- Inflation is really not down to 3%. There is energy that can move around a lot.
- I am in comfortable of declaring victory with inflation near 3%
- I don’t think you can change the inflation target until you hit it. I think you have to go all the way.
- I am willing to be patient in getting to a 2% target