Fed's George: Have to Be More Patient on Inflation

The video discusses recent economic trends, focusing on the housing market's response to rising interest rates and the Federal Reserve's efforts to balance supply and demand. It highlights the impact of inflation, particularly in the service sector, and the importance of current rate measures over lagged data like CPI and PCE. The discussion also covers labor market tightness and consumer spending, emphasizing the need for patience in achieving the Fed's inflation target.

What factors are contributing to inflation pressures in the services sector?

What indicators would suggest that inflation is coming down?