A Federal Reserve official has raised concerns about inflation remaining stubbornly elevated despite policy tightening efforts. The key issue: a recent uptick in core goods prices is working against the Fed's stated goal of bringing inflation back down to target levels.

What does this mean for markets? When core prices—the inflation metric stripping out volatile energy and food costs—start climbing again, it complicates the central bank's narrative around disinflation progress. This kind of mixed signal typically keeps policymakers cautious about cutting rates too aggressively, even if headline inflation numbers look better on the surface.

For crypto traders and macro observers, this matters. Sticky inflation concerns tend to extend higher-for-longer rate expectations, which historically dampens risk appetite and capital flows into volatile assets. The broader takeaway: we're not quite at the "easy money" phase yet. Until the Fed feels genuinely confident about the inflation trajectory—especially in that stubborn goods component—the macro backdrop remains tilted toward caution.