The Fed is rapidly losing control.
Core inflation has already broken above 2% despite a complete collapse in commodity prices (the cost of living for many household items).
[…] This happened when OIL was also imploding.
[…] Why does this matter?
Because core inflation is ABOVE 2% at a time when commodity prices were FALLING. The Government HAS TO adjust its models to account for this so that ANY RISE in commodity prices will PUSH inflation to the upside.