Fed's Mester: Rates to Go 'Little Bit Higher,' Then Hold

The video discusses the differing views between the market and the Federal Reserve on economic forecasts and monetary policy. It highlights the Fed's focus on controlling inflation and the debate over potential rate cuts. The speaker outlines a forecast for inflation, aiming for a gradual decrease to 2% by 2025, emphasizing the importance of making judicious economic decisions to achieve this goal.

What does the speaker mean by 'calibrating' monetary policy?

What challenges does the speaker identify regarding inflation control?