Fed Doing 'Bare Minimum' With Three 50Bps Hikes: BofA's Harris

The transcript discusses the Federal Reserve's acknowledgment of being behind the curve in monetary policy and the necessity of rate hikes to reach a neutral funds rate. It explores the potential for future rate decisions, including pauses and reassessments, and the challenges of reducing inflation to 2%. The discussion suggests that the neutral rate should be at least 3% and anticipates further rate hikes in the future.

What does the speaker suggest about the Federal Reserve's current position regarding interest rates?

How does the speaker view the possibility of achieving a neutral funds rate of 2%?

What are the implications of inflation being close to three percent next year according to the speaker?

What does the speaker predict will happen if the Federal Reserve pauses in the fall?

In the speaker's opinion, what is the likely trajectory of interest rates in the near future?