Long Term Inflation Expectations Are Critical

Jim Boulden: The fed in my opinion, never thought inflation was transitory. That was them trying to use the tools, the tools that they have, to try and talk down the long end of the curve. They weren't wrong. They were just, their tool didn't work. And now the next tool is a, you know, whatever it takes, type language mand so i think people misinterpret that they were wrong. I agree a hundred % that the fed, with lynn and you i think, iis what you're saying, that there's not much they can do. But when it comes to controlling demand, they have very few tools.

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