I think right now I would say a few
different scenarios that I’ll lay out I
think the most likely scenario is where
we are right now which is just we stay
put for an extended period of time until
we get clarity on is disinflation in
fact continuing or has it in fact
stalled out uh I don’t think we know the
answer to that so I would say the most
likely scenario is we sit here for an
extended period of time if uh
disinflation starts to come again and
INF inflation starts to tick back down
or we saw some weakening marked
weakening in the labor market then that
might lead us to to cut back on interest
rates or if we got convinced eventually
that inflation is embedded or entrenched
now at 3% and that we need to go higher
we would do that if we needed to I think
that’s not my most likely scenario but I
also can’t rule it out