The Fed is getting annoying.

A year ago they were talking about transitory inflation and were adamant about it. Now they are adamant about permanent inflation.

The market is making a play because it is a living-being. The Fed is dead.

I get it... The errors from their text books showed that the Fed thought inflation was dead in the past and that was a mistake.

However, 1980 is not 2020. There is a shortage of workers especially in the service sector. The service sector is working to fix it. They need to increase productivity. If it means shutting the counter at McDonalds and accepting app orders/drive thru only, they will figure a way to get out more burgers with less.

It took Williams two days to start to talk about raising the terminal rate, and using 6% in a comment. Why talk about 6% when the body of Fed official ALL just met, and agreed 5.1% was "IT" two days ago? Everyone had a opportunity to put 6% down or 4.8% down. They put 5.1% down and published it.

If they can coin the term "transitory inflation" and talk about it ad nauseam, why not coin the term "permanent inflation". That is what they believe now.

They may be right, but if you take the last 5 months of CPI, it averages 0.2%. That is 1% for 5/12 of the year. Stop the lie that a $0.25 raise to service employees wages requires prices going up 10% on all prices.

Rant... yes, but Fed officials should put a blackout period after their meetings too and have that last until 2 weeks before the next decision.