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Anna Wong highlights how, in October 2017, then Fed chair Janet Yellen commented on a temporary fall in inflation due to wireless phone services.
Wong questions the wisdom of allowing this specific category to drive a decision for a rate hike, and describes it as a big mistake.
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Wong previously discussed the possibility of rising bond market volatility if issues surrounding a Treasury-Fed accord gain attention. She also noted that the Fed has no precedent for hiking rates following two negative payroll prints, as seen in her analysis of a potential negative U.S. payroll report last week. These observations reflect her ongoing focus on the complexities influencing Fed policy decisions.