INFLATION & MONETARY POLICY: If the current consensus across global Wall Street is that the @federalreserve's interest rate policy will be ineffective at combatting this key driver of core inflation w

INFLATION & MONETARY POLICY: If the current consensus across global Wall Street is that the @federalreserve's interest rate policy will be ineffective at combatting this key driver of core inflation without committing outsized harm to the bottom of the K-shaped US economy, then the risk is that the Fed will be forced to use its balance sheet to target excesses at the top of the K-shaped economy to achieve its price stability objective. — via @DariusDale42

Highlights Fed policy ineffectiveness against core inflation driver and risk to K-shaped economy bottom.