It's risky just to sit back and wait for inflation to show up before we do something, ... One point arguing for monetary restraint is that we seem to have reached a stage where inflation is no longer falling.

a little bit of inflation could be a really good thing, but not too much of it.

With higher inflation still a tangible threat, officials cannot rule out the possible need to move beyond neutral.

Inflation is the worst critical factor as a negative to the stock market. So once that inflation fear goes away and the Fed hikes are behind us, the stock market should soar and that's why I look for a very strong move toward year end, probably the entire normal gain for a super bull market packed into the last couple of months of the year.

The outlook for inflation seems very positive to me for some time to come, and therefore, I doubt that there will be a need to fight inflation for quite a while, ... Indeed, I believe that further disinflation is more likely over the next year or so than a resurgence of inflation.

Deflation isn't good, and inflation is easier to cure than deflation.