The Federal Reserve left its benchmark interest rate unchanged on Wednesday but could not hide a growing split over inflation.
It shows the center of the committee is willing to talk tough on prices while waiting for another meeting's worth of data before moving.
Those are not abstract index components for drivers and shippers.
They should treat it as divided and capable of moving either way with one more data cycle.
Watch whether the unemployment rate rises as the labor force changes composition.
The FOMC voted 9-3 to keep the federal funds rate at 3.5%–3.75%. Hammack, Kashkari, and Logan wanted a quarter-point increase as inflation stays above 2%.