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Why kind of statement is this? Of course it's "some kind of victory" because it's better than it was before. No one is saying it's over, but the expectation is
by tootie 4y ago
Why kind of statement is this? Of course it's "some kind of victory" because it's better than it was before. No one is saying it's over, but the expectation is that once the trend goes downward, then we've broken the back of the problem and further tightening will likely cause us to overshoot. There is no possible way to make inflation drop from 8 to 2 in a month unless you trigger massively deflation in 6 months. The current data says the rudder is in the right position and we just have to wait for the ship to come about.