Fed's Reasons for Not Tightening Are Gone: Metcalfe

The transcript discusses the challenges faced by the Federal Reserve due to global economic pressures, particularly the strength of the dollar and quantitative easing from other central banks like the BOJ and ECB. It highlights the Fed's efforts to normalize markets amidst inflation concerns and labor market improvements. The discussion also covers the influence of global economic policies on the Fed's decisions, the importance of removing tail risks, and the role of central banks in influencing market sentiment through clear guidance.

In what ways has the communication from the Federal Reserve changed, and why is it important?

Discuss the implications of core inflation being above 2% for the Federal Reserve's actions.