inflation

And inflation, as reported yesterday, has been ticking up lately, not down.

With inflation stubbornly above the Fed’s target, that stance is probably still the appropriate rate setting, Collins said—especially given that a strong run in financial markets has supported the economy’s resilience.

The second disagreement is over how to interpret inflation.

Blame medical inflation and more people in need of costly care for the 9.7% jump in Medicare Part B premiums next year.

Darmet told Barron’s that with inflation above target and the economy stronger than the Fed’s projections suggested, policy is now more dovish than conditions call for.