Fed Is in a Bit of a Dilemma, Guggenheim's Minerd Says

The transcript discusses traders' expectations for the Federal Reserve's interest rate changes, possibly before 2023, and the market's demand for clarity from Fed Chair Powell. The Fed faces a dilemma in maintaining market stability while addressing inflationary pressures, which are expected to be temporary. However, market participants are challenging the Fed to act sooner if inflation persists, creating tension and uncertainty.

What is the significance of the phrase 'prove to be transient' in the context of inflation?

What questions do market participants want answers to regarding inflation?