This guy is supposed to be a plain speaker? I long for the good old days of Greenspeak. This is how the Fed used to convey their bias: That is clearly a tightening bias. Then on Dec 19 2000 they switched, and let us know with plain language: Easing bias, right? But now we get this: OK, they said "firming" but the entire sentence they chose to use over and over really means nothing more than, "well, it sort of depends." And now they change it to the internally inconsistent: They changed "additional firming" to "policy adjustments." An adjustement could still be a firming, and since it all still depends on "incoming information" has anything really changed? If, as they say, " the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected," how can they possibly change their "bias" (even though they no longer use this term) from tightening to neutral? They need to speak a little bit more clearly.