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Friday's employment report is set to be messy for a number of reasons, not just because Omicron is likely to weigh somewhat heavily on nonfarm payroll estimates. At the risk of sounding like a broken record, your best bet to avoid getting spun around by all of the

It is key for commentators and policymakers to bear in mind that "transitory vs. persistent" is not the same debate as "narrow vs. broad-based."

The policy mistake worth worrying about isn’t the speed of taper per se; it's the signal that taper sends about the timing of liftoff in interest rate policy.

As the year ends, the final three inflation prints are more likely to be on the hotter side of what policymakers are comfortable with, especially due to developments in motor vehicle and air travel prices.