Fed Governor Christopher Waller believes the central bank can control inflation without inflicting a "painful" spike in unemployment. Others say his analysis "contains misleading conclusions, errors, and factual mistakes."
"Russia's going to face an insurance and financial services ban. ... Why should they retaliate for an initiative that enables their oil to continue to flow through to world markets at a price that is profitable?"
Economists don't tend to look at any given indicator in a vacuum. Instead, they consider a wide variety of data when making projections about the health of the economy.
Following in the footsteps of inflation-slayer Volcker, Powell openly endorses raising rates into restrictive territory with the aim of cooling off the labor market.