The Fed Wants Us to Stay Aware of the Lag Effect

I think what's confused me specifically is the fact that the market might even know this, but it doesn't seem to want to acknowledge it and sort of levitate prior. We're going to get CPI this week, right? And we know we've talked about this a few times on all of our programs that last month was when we passed the peak reading in base effects. So this will be the first reading where inflation had started to tick down last year. Could be more challenging because of that.

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