- It’s ‘more than time’ for the Fed to begin normalizing
- Expects a series of rate hikes with timing depending on data
- Says she will be closely watching the data in the coming weeks
This is an interesting shift in the Fed and it’s surprising. After Bullard, there appeared to be a concerted effort to talk down the risks of 50 bps but now we have a Fed governor putting it squarely on the table.