I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral, ... You have to be looking at the economy going forward and that changes as additional data comes in.

302

We feel it's necessary to reduce accommodation.

256

We still believe that (there is) excess capacity in the economy.

218

Participants in the markets are working actively to figure out alternative distribution routes and alternative transportation systems to move their products.

182

Even without an increase in inflation expectations, it will take appropriate monetary policy to keep inflation well contained.

167

It will take appropriate monetary policy to keep inflation and inflation expectations well contained. For me, at this time, such policy likely entails further removal of policy accommodation.

136

Roughly consistent with an economy operating at potential.

135

Time to react and take action.

131