Keeping at it

Inflation has not, so far, reacted much to the existing rate hikes

Succinct Summary:  The economy seems to be getting hotter and the Fed does not appear to be pleased about it. The FOMC made a hawkish pause last week and indicated that inflation is not moving down as much as it would like. Jerome Powell said that a rate cut is not likely to be appropriate this year and may not come for another couple of years. Meanwhil…