 Fed President Jerome Powell suggested this morning that the Fed would not wait until inflation hit their 2% goal before beginning to lower interest rates. Powell commented at an event in Washington, D.C., the implication of that is that if you wait until inflation gets all the way down to 2%, you've probably waited too long because the tightening that you're doing or the level of tightness that you have is still having effects, which will probably drive inflation below 2%.