Mr. Goolsbee said that we would look at rate cuts with reference to the Fed's September dot plot, and personally I would prefer not to go straight towards neutral, which is significantly lower than the Fed's policy rate, but to slow down as we approach it. Everything is always on the table in the Fed's policy calculus. He also said that the inflation data must continue to improve, and if you start to see a reversal in the inflation process, it must be clear whether this is just a temporary fluctuation. Not much has changed in this regard in the past few weeks. However, inflation has been slightly above target recently, and if this continues, the (long-term) inflation level will be too high.