• Expect disinflation to resume after this year
  • Growth to remain around 1.5% for the rest of 2025
  • Impact of administration policy is still evolving
  • Consider uncertainty around baseline outlook as especially high

We haven't got monetary policy or economic outlook comments from Jefferson for months, as far as I remember. I think these comments put him in the neutral camp, so two more rate cuts this year as projected in the dot plot.

Source: Investing Live