Federal Reserve Chairman Jay Powell (and others) want to keep their foot on the monetary pedal since the economy is “still soft.” What is soft about US GDP growth of 9.47%?
Powell would like to see 2% inflation, not the 1.45% Core PCE growth that we are experiencing.
Maybe The Fed should include rising home prices (rising at 14.1% YoY) in their calculate of inflation?
9.47% GDP growth with 1.45% core inflation? With rapidly rising home prices?