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Fed is going to slow down because things are uncertain - perhaps as soon as December.
Goods inflation is slowing down but they are worried about labor costs.
The labor market is sort of the hurdle because of the rising cost of services - haircuts, healthcare etc. - which are primarily driven by wage costs
The Fed sees a gap in the labor market which they say is driven by [driven by retirement (the gap in labor-force participation mostly explained by pandemic-era retirements), immigration, and slow growth in working age population] and the obvious solution to that would be increasing workforce participation rates but the fed can’t fix that.
Video Length: 00:06:15
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