Nomura's Rochester Says Yellen Is Boxed in a Corner

The transcript discusses the Federal Reserve's comments on potential interest rate hikes and their impact on market pricing. It highlights the roles of key Fed members like Yellen, Fisher, and Dudley, and the influence of inflation data and Trump's policies. The Fed's communication strategy aims to keep options open for potential rate hikes, with a focus on market reactions and consensus. The discussion also touches on the relative influence of Fed comments versus Trump's speeches on the market and the dollar.

Discuss the significance of the inflation data mentioned in the text.

What is the perceived consensus regarding a potential rate hike, and how has it changed?