Reports Of US Inflation Rebound ‘Greatly Exaggerated,’ Goldman Says

Fed critics -- and here I mean critics concerned about the proper course of monetary policy, not those "concerned" about staffing levels -- worry that, at least prior to the hawkish lean that accompanied this month's rate cut, Jerome Powell and friends were insufficiently attentive to still-percolating inflation in the US. The story goes like this. In early August, the Fed (and markets) were spooked by a lackluster jobs report (and an uptick in the UNR that triggered the Sahm Rule), prompting a