I think my view on this and I have been holding this for quite some time, it depends on what camp you belong to. But even at a high level, you look at the numbers, the PC inflation number that Fed looks at, you see that since last Jan it is barely budging.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend