Opinion: The Fed could be going overboard in fighting inflation

CNBC economics columnist Ron Insana tends to believe signs that inflation is easing, given that global supply chains seem to be normalizing, rents and housing prices are coming down and the latest report from Friday shows that the annualized inflation rate has fallen below 3 percent, below most forecasts. Mr. Insana is of the opinion that further interest rate hikes by the Fed would be a mistake and that seemingly intractable problems like rising labor costs should be mitigated through immigration reform and the application of technology.