If they are really geared to a 2% inflation benchmark, then this means the Fed is too restrictive.

29% chance of a hike in July is absurd (2nd Chart Below) Warsh speaks next week....hmmm🧐 https://t.co/3FzgNWmanB — via @Tyler_Neville_

29% July hike chance and Warsh speech signal restrictive Fed policy uncertainty.