Not likely to happen. Inflation is due to supply chain issues. China's manufacturing numbers are in decline showing global demand is slowing. The US just pulled a ton of direct stimulus out of the economy with the ending of the unemployment benefits. The PPI/CPI numbers are showing that the commodity pricing is not able to be fully passed one, meaning that higher prices are being rejected by consumers.
Powell was well aware there was a bad job reports out there, especially after July "seasonally adjusted numbers" turned a 200K negative into a near million gain. August showed that things are bad.
Finally, Powell is not going to taper when his term is up and he wants to be nominated again.
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Appreciate your summary as I do not really keep up with such things. I guess I should.
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