연준의 데일리(2027년 투표권자): 고용 보고서는 좋은 소식이고, 임금 상승세는 호황이 아니며 실질임금은 하락하고 있다고 말해

Inflation: Inflation has been high for too long and has to be the number one priority. It's proving more stubborn than would like, and confidence that it's coming down needs to be higher. There's uncertainty around tariffs, war, and AI, but stubborn inflation remains the central concern. Interest rates are the tool that they have to do the job to get inflation down. Policy: The September rate hike was the right move, and it was also good to be on hold at the last meeting. Policy will have to be tightened further. More information is needed on how much more tightening and when. The approach needs to be deliberate. Prepared to raise rates if it's called for. Policy rates are likely slightly restrictive to neutral. Policy is not as restrictive as it needs to be. Labour market and growth: A strong labour market gives the Fed latitude to get the job done on inflation. Not worried about a substantial decline in growth. AI: The AI repricing trade has been orderly so far. If it signals slowing demand, growth might come down a little. Stepping back from the painful volatility, this is the kind of rebalancing you would hope for. Business sentiment: Businesses want inflation to come down. They're cautiously optimistic about the outlook.