A recent decline in commodity prices was evidence that price pressures will cool as supply bottlenecks from reopening the economy are worked out and stimulus fails, maintaining that our concurrent inflation is temporary and would eventually move back to a 2 percent target.
Jerome Powell discusses inflation and commodity prices in relation to the economy.
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The outlook for employment and inflation does not appear to have changed much since our September meeting
If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.
If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
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