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That’s a fair point, but I’d be careful with saying it’s blatantly political. Inflation is still well above 2%, and the Fed has a genuine reason to consider tighter policy.
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That’s what I meant. Tighter policy is obvious from a fundamentals standpoint. We’ve had elevated inflation for something like 25 straight quarters.
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At this point it’s less about a temporary inflation spike and more about how persistent the problem has become.
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We haven’t been down to the 2% target since Covid.
It would be a no-brainer to raise rates if it weren’t blatantly about politics.