<ul><li>Recent data has increased the top range or where I think rates need to get to</li><li>Service sector inflation is still very high</li><li>Not seeing clear and consistent evidence of softening of labor markets</li><li>We need a holistic look at the data and that says we still have more to do</li><li>Interest-rate sensitive sectors have responded to Fed, other areas not yet</li><li>I do not see clear significant evidence that <a href="https://www.forexlive.com/terms/i/inflation/" target="_blank" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa_2" class="terms__main-term">inflation</a> is coming down</li><li>Service sector inflation still very week</li><li>75 basis points is still on the table</li><li>There's a risk that as we raise rates, we may go too far</li><li>I am reasonably optimistic that we can avoid recession</li></ul><p>This is very much in line with what Powell has been saying.</p>
This article was written by Adam Button at forexlive.com.
