The Fed's Attempt to Tame Inflation

Inflation has been much harder to tame than many had expected when the Fed kicked off the tightening cycle back in March 2022. Core inflation is around 5% a year and clearly a far cry from the Fed's 2% target. How do you make sense of all this going forward and how does the Fed get the job done once and for all? That's an outstanding question because there's just so many things about inflation and so many moving parts that it sometimes is indeed difficult to keep a cool head and figure out which data to look at.