Beat the Press:

Why is the WaPo so Disingenuous?

During the 11 years from April 1997 through April 2008, the unemployment rate was at or below 5.1% for more than 7 years. Then the Great Recession hit us and unemployment was above 5.1% for 7 years. https://research.stlouisfed.org/fred2/series/UNRATE

So unemployment below 5.1% is not rare at all. What is rare, however, is inflation above 3%. That has NEVER happened on an annual basis over those past 18 years. In fact, inflation has not been above 3% in 24 years. https://research.stlouisfed.org/fred2/series/PCETRIM12M159SFRBDAL

The Fed should forget about inflation and focus on unemployment and wage increases.

Bingo.

If Janet is stampeded into an interest rate increase this year, I will be very disappointed.

Cheers,
Scott.