Does He Mean What He Says?

There is clearly still a massive spread between the projections and the dot plot from the last summary of economic projections. And that's going to be resolved in the next couple of months, potentially to some extent, by the incoming information and the data, not by Fed speak. Let's wait for the data, the CPI prints in the labor market data, and it starts with payrolls tomorrow. If you get an easing in financial conditions, does that matter in terms of pushing the economy further away from the goal? Right?"