James Egelhof

“the most striking feature”

James Egelhof · said date not stated · reported 2026-09-18

Egelhof agreed that the dose of accommodation remark was the most striking feature of Warsh's news conference.

“With policy starting at a stimulative stance, a strong cyclical impulse, and persistent inflation, we think significant rate increases, perhaps more than the three we expect, may be necessary to stabilize the unemployment rate from below and prevent overheating next year,”

James Egelhof · said date not stated · reported 2026-09-18

Egelhof said significant rate increases beyond the three he expects may be necessary to stabilize unemployment and prevent overheating.

“The word 'accommodation' means 'stimulus' at the Fed; this comment implies that the current monetary policy stance is meaningfully stimulative,”

James Egelhof · said date not stated · reported 2026-09-18

Egelhof wrote that Warsh's use of the word accommodation implies the current policy stance is meaningfully stimulative.