JPOW is the same dood that insisted inflation was transitory. I don't believe the fed because they lie all the time. Anyway, if they wished to fight price inflation then they'd move fed funds to a rate above price inflation and stop screwing around with silly 25 - 75 bp hikes.

Even at 425 to 450 bp on fed funds, which took nearly a year to get to btw, there's zero chance they'll get a handle on price inflation. Instead they're simply normalizing high levels of price inflation while slowing destroying debt and equity markets. Here I thought the fed always aimed for 2% price inflation to steal slowly from savers...now 2% has turned into 7% and people are happy when it stops going up for a couple months. lol