- Inflation was not question of just demand overheating, but also involved a supply shock.
- Needed to see an unwinding of the pandemic led distortions and the effects of tighter monetary policy
- We think monetary policy is tight
- There may be more supply-side gains to be had on inflation
- Labor market is rebounding
- Labor market has made substantial progress toward better balance
This article was written by Greg Michalowski at www.forexlive.com. Source