It's Fed week. The Fed is expected to raise another quarter point on Wednesday. That will take the Fed Funds rate to the range of 4.5%-4.75%.
And as we discussed on Friday, that would take short term rates ABOVE the rate of inflation, which is historically the formula for beating inflation.
In this case, instead of chasing inflation, the Fed used a new mix of tools (which included help from the White House on gas prices) to manufacture a (somewhat) meeting in the middle of inflation and interest rates.
Here's another look at the chart, as it will stand on Thursday…