- Risks to achieving 2% inflation have increased, risks to labor market have receeded
- Going into recent policy meeting, Fed needed to recalibrate mon pol to reflect risks
- Fed was out of position and made an adjsutment in the right direction
- Inflation is not clearly trending towards target in a timely way, economic growth is strong, labor market is solid
Growth got even better with today’s US S&P Global PMI hitting a five-year high.
This article was written by Adam Button at investinglive.com.