I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral,.. You have to be looking at the economy going forward and that changes as additional data comes in.
Michael Moskow
I am starting to hear more anecdotes about softening in housing markets, and seeing more reports that home prices are growing at a slower rate
home growing starting hear anecdotes
It will take appropriate monetary policy to keep inflation and inflation expectations well contained. For me, at this time, such policy likely entails further removal of policy accommodation
time expectations inflation
data forward economy answer
Roughly consistent with an economy operating at potential.
potential economy
We feel it's necessary to reduce accommodation
feel
Even without an increase in inflation expectations, it will take appropriate monetary policy to keep inflation well contained
expectations inflation
Short-lived.
We still believe that (there is) excess capacity in the economy
economy excess
Participants in the markets are working actively to figure out alternative distribution routes and alternative transportation systems to move their products
products working systems
Time to react and take action.
action time
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