Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity. In recent months, output growth has moderated and the pace of improvement in labor market conditions has slowed. This softness likely owes importantly to the substantial rise in energy prices. The economy nevertheless appears poised to resume a stronger pace of expansion going forward. Inflation has been somewhat elevated this year, though a portion of the rise in prices seems to reflect transitory factors.

Restated

The Comittee believes that, we are in between a rock and and a hard place. The economy is slowing down while inflation is picking up. Our hands are tied we have to increase rates from these ridiculously low levels. We hope things pick up and prices start to fall.