Personal Consumption Expenditures (PCE) are coming out this Friday. It’s the Fed’s favorite measure of inflation.

And speaking of inflation, one of our move Dovish Fed Presidents Austan Goolsbee of Friday said that we never want to overreact to one reading, but we have had three months of readings and inflation is just not budging.

How long do we sit back and wait for the right situation to happen before we make our move? There will never be a perfect time. There will never be a wrong time. The world moves forward regardless.

I used this graph last week, but it’s worth repeating: Rates are high, from the hindsight perspective of two years.