Economists today selectively choose the largely incorrect data that has the ability to tell a politician his preferred policy is correct, even when it's horrible.
The Fed claims to be data-dependent. The data says talk of inflation’s demise was premature. No matter how you massage the numbers, nothing indicates the Fed is winning this fight.
The Fed being stuck with keeping rates up does not mean anything about the economy being strong. It is just what inflation is forcing the Fed to do…until something badly breaks.
Central banks (with a big assist from governments’ fiscal actions) created the post-2020 inflation problem. Period. Now as the Fed tries to clean up its huge share of it, not all is as it appears.
The U.S. government has a spending problem, like a drunk dude shopping on Amazon. The current administration blew through $499.25 billion last month alone, a January record.
