The Fed's Optimism About Rate Cuts

Inflation is not caused by food prices going up, it's inflation that causes wages to rise. Food prices could rise for other reasons other than inflation but rising prices won't cause inflation. The cost of shipping everything is going to go way up and companies are going to do the same thing. So there are tremendous inflation pressures that are building. And the Fed is oblivious. Yes, Powell is saying we still see inflation as a threat, but he's promising to cut rates next year in the face of that threat.