I found it quite interesting that they didn’t bother to update their dots after the downside surprise to May inflation. Rational inattention or did they want to send a hawkish signal that after four unpleasant reports they were going to be steadfast?
I found it quite interesting that they didn’t bother to update their dots after the downside surprise to May inflation. Rational inattention or did they want to send a hawkish signal that after four unpleasant reports they were going to be steadfast?
Yes but I would agree on a cautious approach given how sticky inflation has been and the relatively poor readings at the beginning of the year.