“If they just don’t make further progress on inflation, it will be right at some point to say, ‘We don’t know what direction rates are going to go.’” The Fed is "still a ways from that,” said Bill English, a former senior Fed adviser www.wsj.com/economy/central-banking/fed-chair-jerome-powell-projects-optimism-but-inflation-data-are-in-the-drivers-seat-2e729027?mod=hp_lead_pos2

One of the clips from yesterday morning's conversation on @BloombergTV. www.bloomberg.com/news/videos/2024-05-03/el-erian-says-goldilocks-jobs-report-will-please-fed?sref=wFBeaN16 #economy #jobs #employment #unemployment #federalreserve #centralbanks #econtwitter

From @jeffsommer article in the @nytimes, " The Perils of the Fed’s Vast Bond Holdings." www.nytimes.com/2024/05/03/business/federal-reserve-markets-turmoil.html #economy #federalreserve #markets #qe #qt #econtwitter pic.twitter.com/BPNhXlMB5p

The Fed's general intuitions -- not getting overly excited about the disinflation of the second half of 2023, and then also not getting overly excited about the warming in Q1 2024 -- not looking too bad.