Fed policymaker Bostic has flagged a critical concern lately—the inflation puzzle is far more complex than just tariffs. When price pressures are mounting from multiple angles, it's risky to assume the battle is already won.

The broader takeaway? Central bankers shouldn't rush to pat themselves on the back. Multiple demand channels, supply-side shocks, and geopolitical uncertainties are still in play. Declaring victory too soon could leave the Fed flatfooted if inflation makes a comeback.

For crypto traders and investors watching macro signals, this message carries weight. Fed patience and caution typically support risk-on sentiment in markets like digital assets. But a premature declaration of victory followed by policy reversal? That's the kind of whipsaw that catches positions off guard.