"Generally, the higher prices we’re seeing are related to the supply and demand imbalances that can be traced directly back to the pandemic.""But it’s also the case that pricing increases have spread much more broadly in the recent few months."
"...it's time to retire the word "transitory" regarding inflation."
One might conclude that making such a declaration amid rising COVID uncertainty means the Fed is actually willing to let a little air out of the equity market bubble.
Time will tell...