The recently released inflation figures for August should give pause to those who keep touting isolated pieces of data to claim that things are improving and that the Fed will no longer need to raise interest rates to stem the inflationary price trend. The CPI came in at 8.3% for August (and the 16% trimmed-mean CPI, which removes short-term fluctuations, came in at 7.2%, the highest figure since they started publishing it).
If you consider how far the Federal funds rate is from those figures, at currently 2.5%, you get an idea of how much higher the monetary authorities will have
