A Deep Dive Into the Fed, U.S. Dollar, and Oil

The transcript discusses the Federal Open Market Committee (FOMC) statement, which some view as dovish. It highlights the Fed's cautious approach to interest rate hikes due to global financial risks and the strength of the US dollar. The discussion also covers the impact of currency markets on Fed decisions, noting the importance of the dollar's strength relative to other currencies. The transcript concludes with an analysis of inflation trends, suggesting that the Fed may allow inflation to exceed 2% before tightening policy, with a focus on inflation expectations.

What does the speaker mean by 'the whites of the eyes of inflation'?

What is the speaker's perspective on inflation expectations in relation to actual inflation?