Neither the U.S. labor market nor the housing market is overheated, which will help ease inflation

Neither the U.S. labor market nor the housing market appear to be overheating. "This combination should help moderate inflation over time, but progress in fighting inflation is likely to remain somewhat bumpy. While recent surveys have shown some heightened consumer concerns about inflation, it is encouraging that 5Y5Y inflation expectations, a market-based measure of medium-term inflation, remain fairly close to 2%.