The Fed Is Not Chilled About Inflation, Right?

To be under no illusion that the fed is full of geniuses who know what they're doing. That's the first assumption we should scotch write. They are just human beings doing a job in a weird world, which is so complex that nobody really understands. Second thing though, to the extent that they do understand, they have the power of policy. So consequently they are very, very important. What i signall in is long, long war against inflation, right? And financial markets are sold off, right? So th Thursday they rallied, but friday they' sold off. The sell off is showing that there's a passeon of behaviour here, which is that