Forex News: Feds Stern on CNBC

Longer run inflation should see some lower pressure for headline and core. Short term may see some uptick still
Tight credit restraining economic activity. Will take some time for headwinds to deminish.
Some time before see growth at or above trend
Economy has been 'very subdued'. See that in employment. Don't know if will be charaterized as a recession
Stonger dollar is a relief for the inflation outlook. The dollar has declined for some time and exports have benefitted.
It will pay to be paient at this point with regard to monetary policy. Inflation and Inflation expectations seems to have diminished.