UBS's Donovan Says Latest U.S. Data Is 'Just Noise'

The video discusses economic indicators such as unemployment and housing prices, highlighting the recent trends in inflation. It explains that the unusual drop in oil prices has ended, leading to a return to normal inflation levels. The video also examines the Federal Reserve's strategy in tightening monetary and quantitative policies to manage inflation effectively.

What does the speaker mean by 'noise' in the context of inflation data?

What does the speaker imply about the relationship between oil prices and inflation?