“I think it's a fine line,” John Faust, a former senior adviser to Fed Chairman Jerome Powell, told Timiraos. “The 50 percent number is very plausible,” said Esther George, who served as president of the Kansas City Fed for more than a decade until last year. She noted that because the Fed moved quickly to tighten policy above the “neutral” rate, it may make sense for the central bank to move just as quickly to ease.
