CNBC had the the deputy treasury secretary (pretty sure that was his title) on right before the print this morning. He was careful to say that controlling inflation is the Fed's responsibility before going on to say we're in a good place.  I don't know what changed, but that would have brought previous Fed Governors to their feet publicly calling out the administration for spending. It used to happen all the time. The fed only has one lever to pull and controlling inflation is very much a shared responsibility - clearly a responsibility that the administration is choosing to ignore.  The fed bears some responsibility for not using their pulpit to call out the administration as previous Feds have.