Inflation Slowing but Fed Faces Dilemma on Rate Cuts

Inflation moderating but still hovering around 3%, raising questions if fully lowering it to normal will be difficult
If Fed fails to control prices quickly, could convince people inflation will stay high
Slowing inflation so far has been painless, but keeping rates up longer could guard against prices picking back up
Economy better than expected, cutting rates prematurely risks allowing inflation to run warmer
Fed meeting to possibly dial back rate cut expectations from 3 to 2 for 2023-2024