Forward guidance is not good at this junctureOn rate path, we don't know how the economy will play outHard to say the labor market has firmedThis comments strike me as disingenuous. The jobs market has certainly firmed in the last 3-4 months and the data has consistently pointed in that direction. At the same time, inflation has obviously increased as well.I think there's an increasingly-good trade in terms of risk-reward on the Fed falling behind the curve on inflation. There is a powerful mix of AI capex, fiscal spending, oil prices, low immigration and tariffs that are a recipe for persistent inflation above 2% and at some point the Fed will have to address it. Rates at current levels aren't getting the job done. This article was written by Adam Button at investinglive.com.