"Democrats want to take credit for the higher real wages. Republicans want to deny that real wages are higher. Both…

"Labor market developments cannot explain the decline in nominal spending growth. Tighter monetary policy can... Given the lags of monetary…

"Despite the progress made on inflation over the last three months, and the risk of overtightening noted by Waller and…

"Prices today are 8.9 percentage points higher than they would have been had the Fed hit its 2-percent inflation target…

"It is difficult to say precisely when the inflation tide will turn. But consumers should expect inflation to remain high…