Stop looking at goods inflation and oil. The fed cares about wage inflation and services inflation. That is what they are now looking at and that is their focus.
Powell is also concerned about his legacy. He does not want to be remembered as the guy who pivoted too soon and caused inflation to come back as Volker did back in 1979-1980.
Powell is also concerned about his legacy. He does not want to be remembered as the guy who pivoted too soon and caused inflation to come back as Volker did back in 1979-1980.

