transitory? it s probably a good time to retire that word and try to explain more clearly what we mean. paul: federal reserve chairman jerome powell on capitol hill this week acknowledging it may be time scrapped the term transitory running describing transitory as prices climb well past 2% target to a 31 year high of 6.2% in october. powell forney the banking committee tuesday he expects prices to continue into next year the new omicron bearings could have a negative impact of inflation and employment. disappointing 210,000 new jobs in november, the fewest in nearly a year. let s bring in kevin hassett, chairman of the white house council of economic advisors under president trump. let s take the jobs report, 210,000 new jobs but on the other hand, who interest in the labor force and unemployment