'The Great Inflation' Isn't Over, Vincent Reinhart Warns

The transcript discusses the recent trends in inflation, highlighting that while inflation has halved, it is not yet time to declare victory. The Federal Reserve's role in managing inflation is emphasized, with a focus on the importance of reaching a 2% inflation target. The discussion also touches on the potential acceptance of a 3% inflation rate and the risks of declaring victory too early. Future economic projections are considered, particularly the impact of inflation on unemployment and economic expansion.

How might rising unemployment affect the Fed's approach to inflation?

What does the speaker imply about the relationship between inflation and economic expansion?