The Three Things JPMorgan's Michele Wants to Hear From the Fed

The speaker outlines three key expectations from the Federal Reserve: detailed information on inflation and its transitory nature, the impact of the Delta variant on their decision-making, and a clear tapering schedule. The speaker expresses confidence in the first two areas but is less certain about the tapering schedule.

What does the speaker want to know about the Fed's view on inflation?

• The impact of inflation on global markets

• The exact inflation rate for the next year

• The historical inflation trends over the past decade

• How they define 'transitory' and where inflation will settle

How does the speaker feel about the impact of the Delta variant on the Fed's thinking?

• They believe it has no impact

• They are confident it will not affect the Fed's plans

• They are curious if it has shifted the Fed's approach

• They think it will lead to immediate policy changes

What is the speaker's expectation regarding the Fed's tapering schedule?

• They want clarity on when discussions will begin and when tapering will start

• They expect tapering to start immediately

• They believe tapering will not happen

• They expect tapering to start in December

When does the speaker expect the Fed to start discussing tapering?

• At the next year's meeting

• In the summer

• In the winter

• At Jackson Hole or the September meeting

How confident is the speaker about the Fed's plans on tapering?

• Very confident

• Not confident at all

• Confident about the first two areas, less so about tapering

• Confident only about tapering