It's too early to have firm views. The key question is whether oil stays up or comes back down. Even if it stays up, the read-through to core inflation is limited, so there's little policy implication thus far.

The 2022 situation was unique due to highly expansionary monetary and fiscal policy. Current policy is restrictive and fiscal policy isn't slamming on demand, making a persistent inflationary breakout from an oil shock unlikely.

It's way too early to reject a two-plus year trend of a gradually cooling labor market based on one or two reports. Slack remains, supporting continued accommodative policy.

He would be concerned if inflation markets showed worry about longer-term expectations, but he doesn't see evidence of that. Short-term moves are mechanical from oil prices.

States the Fed is probably about a point above neutral. The goal of cutting is to get back to neutral, not to become accommodative.

Would consider it if inflation risked falling below target, potentially from a faster decline in housing inflation or goods inflation falling quickly.

It's a moment to continue acting in accordance with existing projections. Events over the weekend haven't changed his medium-term forecasts.

Prefers to continue moving in 25bp clips until reaching neutral, then reevaluate. Sees no inflation problem now.

Evidence that would change his mind includes market-based inflation expectations moving up or signs the economy is overheating again.

It's one company, indicative of what could happen. Technological progress destroys and creates jobs; central banks should accommodate such transitions, not prevent new job creation with overly restrictive policy.

Like with the Middle East, no strong read-through yet to warrant a policy response. Notes that financial condition indices may be flawed as they miss tightening in private credit markets.