Because the rent addition to inflation lags by nearly a year, the Fed is, in part, fighting last year's war for that. (If I recall correctly, there is still pl

Because the rent addition to inflation lags by nearly a year, the Fed is, in part, fighting last year's war for that. (If I recall correctly, there is still plenty of inflation outside of rent in the current mix. The Fed is fighting last year's war on the other inflations now because for some reason inflation wasn't a trouble until Powell's reconfirmation hearing this year. The old saying of a stitch in time saves nine comes to mind... )