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Walls who turn let it toil,

the Federal Reserve had been hoping for an excuse to avoid another interest rate increase

at the policy meeting these last hours.

And the inflation data delivered says the Wall Street Journal.

Consumer price inflation now is running at less than half of its peak

of 9.1% a year past, although this reprieve may be temporary.

I welcome Bernic Turejee of the Mercatus Center,

who has been my guide and commentator on the Federal Reserve's struggles

with the inflation number this last year and more.

Bernic, a very good evening to pause, is the reigning word at the Federal Reserve, pause in June.

This data does not support pause if the ambition is 2%,

because we're not close to it.

We're in double that with no prospect to my knowledge of getting there,

unless the Federal Reserve continues to raise rates.

...