Bianco: Inflation Will Bottom at 3% and Drift Higher

Jim Bianco discusses inflation trends, predicting a drop to 3% before rising again. He explains the Federal Reserve's likely response, including potential rate hikes, and contrasts this with historical economic policies. The Fed's commitment to a 2% inflation target is emphasized, highlighting the impact on those living paycheck to paycheck.

What is Chair Powell's stated goal regarding inflation, and why is it significant?

In what ways have rising prices impacted individuals living paycheck to paycheck according to the discussion?