kroszner: that is one of the issues.re we going to see a whole bunch of changes that will relax supply-side constraints. if you can't figure out the demand side because price pressures come from where supply and demand come together. lisa: what are you seeing right now that the market is not in terms of the stickiness of inflation and whether we have seen peak inflation or how quickly it can come down? dr. kroszner: it's likely that inflation will be heading lower but i'm not sure that it will come down so quickly with core inflation. i think there are two reasons, chairman powell mentioned both. you have rents coming down. it's not just today rents but also over a number of months. the other part that's relevant for today is he is worried about services. the strength of the labor market. as i've been saying, the fed is going to keep at it until they see the labor market crack and i think they talk about that. wage increases continue to be high, it will be difficult for inflation to come down. that will take a little whi

joining us now is former fed governor randy kroszner. thank you very much for joining us, randy, for this. this is a curious scenario this is again the bank of japan seemingly joining the party, so to speak, when it comes to interest rates and moving them higher, but it's not as simple as that. there's nuance in what the bank of japan did what is on your radar, so to speak, with regard to what the boj did and how it factors into the fed and everything else around the world right now >> it's never simple when it comes to japan so they did a very interesting move of saying, well, we're not abandoning our framework which keeps the short rate slightly negative and keeps the -- i think echoing here >> it sounds like we've got some audio issues we'll try to get randy back once we get those technical difficulties sorted out. but with regard to some of the those questions that we were asking randy with regard to the bank of japan, this idea of moving interest rates higher but at the same time expanding or getting some of these bond purchase prog