Fed Won't Be Easing for Quite Some Time, TD's Misra Says

The video discusses the current state of inflation, noting that goods inflation is declining while service inflation remains high. The Federal Reserve's approach to interest rates is examined, with predictions of further hikes to achieve a 2% inflation target. The need for demand destruction, particularly in the labor market, is highlighted as crucial for reducing inflation. The video also addresses market optimism about future rate cuts, cautioning against underestimating the Fed's commitment to controlling inflation. The overall outlook suggests a prolonged period of high rates until inflation stabilizes.

What is the speaker's perspective on the need for demand destruction in the labor market?

According to the speaker, what are the structural forces affecting inflation?