No. The Core CPI should have gone down from the steep interest rate hikes. But they didn't and in fact it's still going up. That's huge. 0.4% MoM increase is 5%

No. The Core CPI should have gone down from the steep interest rate hikes. But they didn't and in fact it's still going up. That's huge. 0.4% MoM increase is 5% inflation annualized and that's just for the core. Other parts of the economy are inflating faster and that's a huge problem. The target is 2%. The Fed needs prices to drop and inflation to abate but it's not.