"I'm worried that inflation won't be as short-lived as we thought," said Patrick Harker, president of the Philadelphia Fed.
I think inflation will start to fall, but the constraints on the supply chain are really serious.
"as a result, inflation is likely to rise a little higher. That's why I've been hoping to start scaling back asset purchases as soon as possible.
"I am very satisfied with the launch of code reduction in November, which will be implemented soon, and may be able to stop asset acquisitions completely next summer."this will give us some policy space."
Note: the president of the Philadelphia Federal Reserve expects the cut to start raising interest rates as soon as the end of next year at the earliest.