The Weekly Fix: Is It Still a Policy Error If It’s Intentional?

Jerome Powell, chairman of the U.S. Federal Reserve, second left, speaks to Representative Bill Huizenga, a Republican from Michigan, as Janet Yellen, U.S. Treasury secretary, right, speaks to Representative Madeleine Dean, a Democrat from Pennsylvania, left, following a House Financial Committee hearing in Washington, D.C., U.S., on Wednesday, Dec. 1, 2021. Stocks slid, short-term interest rates rose and measures of equity volatility surged Tuesday after the central bank chairman warned Congress that elevated inflation could justify ending asset purchases sooner than planned. — Jerome Powell, chairman of the U.S. Federal Reserve, second left, speaks to Representative Bill Huizenga, a Republican from Michigan, as Janet Yellen, U.S. Treasury secretary, right, speaks to Representative Madeleine Dean, a Democrat from Pennsylvania, left, following a House Financial Committee hearing in Washington, D.C., U.S., on Wednesday, Dec. 1, 2021. Stocks slid, short-term interest rates rose and measures of equity volatility surged Tuesday after the central bank chairman warned Congress that elevated inflation could justify ending asset purchases sooner than planned.Photographer: Al Drago/Bloomberg

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By Katie Greifeld

December 10, 2021 at 10:00 AM UTC

Welcome to the Weekly Fix, the newsletter that’s mostly worried about publishing a few hours before November’s U.S. inflation print. I’m cross-asset reporter Katie Greifeld.

Everyone’s worried about inflation. Now, bond traders are worried about the fact that the Federal Reserve is also worried about inflation.