INFLATION AND MONETARY POLICY: WHAT THE FED FAILS TO UNDERSTAND, AND ACADEMIA SEEMS NOT TO HAVE LEARNED

Normal inflation can require a higher Fed rate.  In the normal course of business inflation can be spurred by high employment and pay.  The more people are working, and the more they earn leads to greater spending.  In this scenario you must hold interest rates higher to try and bring down inflation.

THE TRUMP INFLATION IS VERY RARE AND REQUIRES LOWER INTEREST RATES

Unemployment is up, and wages are down.  This is the opposite of normal inflation.  In large measure the cost of living is not the result of higher employment or higher demand.  The higher costs of living are tied to Trump's tariff war.  Everything imported is going up.  

The costs of imported goods will not go down with lower interest rates.  But lower interest rates will make buying a home easier, and the cost of borrowing to go down.