I am guided by the dual mandate assigned to the Federal Reserve by the U.S. Congress: price stability and maximum employment. On the one hand, inflation is too high, and we have not yet made sufficient progress on reducing it.
Usage of RFRs in derivatives markets is increasing. Futures and cleared swaps referencing SOFR have started trading, which is ahead of the schedule set by the ARRC (the Alternative Reference Rates Committee, which is the US working group on LIBOR transition).