WSJ: Fed's focus shifting from labor market to inflation

Nick Timiraos, a reporter for The Wall Street Journal often described as the Fed whisperer, has analyzed that the Federal Reserve's policy focus is shifting from the labor market to inflation. He explained that while the labor market has stabilized, inflation is once again facing upward pressure due to tariffs and the war in Iran. Timiraos also assessed that the April non-farm payroll report showed strong metrics across employment, unemployment, and wages, weakening the case for an interest rate cut. He added that the Fed is currently maintaining a policy freeze, with inflation data likely to be the key variable going forward.