Mary Daly

Most people look at how we position ourselves, and there I would say that most people aren't worrying about that phrase.

And so I think the phrasing of the statement is less important than the actions of the FOMC.

And the actions of the FOMC have been to really focus on price stability when we think inflation is rising and really focus on being patient enough to see if the concerns we have are even going to materialize.

Most people look at how we position ourselves, and there I would say that most people aren't worrying about that phrase.

And so I think the phrasing of the statement is less important than the actions of the FOMC.

And the actions of the FOMC have been to really focus on price stability when we think inflation is rising and really focus on being patient enough to see if the concerns we have are even going to materialize.

That is something where our businesses are telling us, oh, we're looking through the shock right now because we don't think it'll last forever, but it won't be forever that we can look through it.

And consumers are doing the same.

Look at the spending.

They're mostly looking through.

I think the

phrasing of the statement is less important than the actions of the FOMC.

And the actions of the FOMC have been to really focus on price stability when we think inflation is rising and really focus on being patient enough to see if the concerns we have are even going to materialize.

That is something where our businesses are telling us, oh, we're looking through the shock right now because we don't think it'll last forever, but it won't be forever that we can look through it.

And consumers are doing the same.

Look at the spending.

They're mostly looking through.

I think the phrasing

phrasing of the statement is less important than the actions of the FOMC.

And the actions of the FOMC have been to really focus on price stability when we think inflation is rising and really focus on being patient enough to see if the concerns we have are even going to materialize.