Fed Reinforces Plans to Provide Open-Ended Stimulus to Spur Recovery - WSJ

“It’s not going to be easy to have inflation move up,” said Mr. Powell. “We’re honest with ourselves and with you in the [projections] that even with the very high level of accommodation that we’re providing…it will take some time.”

Fed Chair Jerome Powell gave this quote 12 months ago. He was saying it would be hard to get inflation to a target of 2%. We’re at 7%.

Not sure why we should believe his predictions today that all of this is going to magically evaporate.