Group 1 - The Federal Reserve is perceived to have room for changes that could enhance the velocity of the financial system [1][2] - Current borrowing practices indicate that the overnight funds rate is less relevant, suggesting a need for stability in the back end of the yield curve to support mortgage rates and existing home sales [2][3] - A proposed adjustment to the funds rate is to set it at 3%, which could align with market expectations and inflation break-even rates [3][4] Group 2 - The discussion emphasizes the importance of addressing mispricing in the markets to achieve a more favorable rate environment [4] - There is a belief that after adjusting the rate, further evaluations should be made to determine if additional changes are necessary [4]