Is the End of the Fed Hiking Cycle Dependent on Inflation?

Timothy Stanley: I do think we're at the top of a local peak in inflation. But that doesn't mean you just constantly go straight up, he says. The endgame later this decade is that they are going to be forced into a corner where there's no more room for them to raise interest rates as long as growth isn't very good or if it's an outright recession. Some hawks might still stick to it though, because Powell has tied his legacy to his ability to get inflation back down,"Stanley says.