Graph 3  There are three questions worth posing about all this. First, how did it come about? Second, was there an alternative path available for the United States (and the world) which would have been more attractive? And third, what might happen from here?
These are two critical pieces of data I will be looking at between now and the June FOMC meeting to learn more about inflation dynamics and if we are seeing some easing in inflation pressures. Uncertainty about Credit Conditions Turning to banking conditions, I want to emphasize that overall, the banking system is sound and resilient, with strong capital and liquidity.