For us at NBR, economic research is an integral part of our institutional mission. Policymaking has always benefited from sound analysis, and we continue to encourage our economists to remain actively engaged in academic research and professional dialogue. This partnership reflects our conviction that economic policymaking is stronger when institutions remain closely connected to academic research and translate insights into practice. This naturally raises the question of whether a delayed monetary policy response to inflationary pressures can be theoretically justified. At the same time, Del Negro, Diagne, Dogra, Gundam, Lee, and Pacula (2025), in Tradeoffs for the Poor, Divine Coincidence for the Rich, demonstrate that income inequality itself influences the conditions under which divine coincidence is likely to emerge.