The Importance of Small Banking Institutions

The Fed has been raising rates now for about a year and a half the funds rate target is five and a quarter to five and a half percent. What do you think are we kind of at the end of the rate hiking cycle here are we at the terminal rate or is there more to go? I don't expect great cuts though so here where I differ from the financial markets financial markets are pricing and interest rate cuts way earlier than myself and some other fellow economists. We were in the group that says there is going to be inflation but we also said you know Larry Summers is right for the wrong reasons in fact if he did exactly that that's that one.