BofA's Moynihan: Fed Will Move Higher Than Neutral Rate

The transcript discusses a speech at the Economic Club of New York, focusing on inflation and the Federal Reserve's strategy to address it. The speaker anticipates that the Fed will exceed the neutral rate due to persistent inflation, which is higher than desired. Economists predict multiple rate hikes, and the market has responded accordingly. The discussion highlights the need for economic adjustments to manage inflation effectively.

What does the speaker imply about the Fed's approach to managing inflation compared to previous years?

What actions does the speaker suggest the Fed will take in response to inflation?