Urgent Warning: The Fed Is Frozen—but Inflation’s on the Move!

They say the Federal Reserve “paused” at a 4.25%–4.50% rate. But don’t let that lull you — inflation is far from defeated. The Fed’s own projections, especially from the San Francisco Fed, warn that inflation is gearing up to strike again—and tariffs could make it even worse. Adriana Kugler, a sitting Fed Governor, didn’t mince words: new tariffs would drive costs higher, handcuffing monetary policy and dragging out this inflation ordeal. Urgency: Inflation Cooling on the Surface, Burning Underneath Yes, headline PCE inflation barely budged—0.1% in March and April. But core inflation, which strips out food and energy, still sits at 2.6% and stubbornly flat. That means the everyday cost of living for you and me isn’t improving, and any tariff…