Esther George, Interview: Bloomberg TV

“So we know that this policy is as accommodative as at any time when we have inflation this high, when we have labor markets this tight. So there’s no question that policy has to be removed, but I think you have to do that in the context of having highly negative real rates, a $9 trillion balance sheet, and thinking about how that combination is going to flow through to the economy. So yes, we have to be very deliberate and intentional as we remove this accommodation.”