Just caught this from the Fed - Goolsbee basically saying if inflation's sitting at 4%, don't even dream about interest rates dropping back to 2%. Kind of makes sense when you think about it, but feels like a pretty firm stance on where rates should stay put.

Means the Fed's not gonna budge anytime soon on cutting rates, which honestly changes the whole game for markets. That 2% sweet spot everyone was hoping for? Probably not happening if inflation stays elevated. The interest rate narrative is definitely shifting here.