Most “macro pundits” I follow think inflation is here to stay for the following reasons: (1) too much money is chasing too few goods – the classic definition; (2) supply chain issues creating shortages and pushing up prices will not be solved in the near term; (3) wages are shooting up, which will further increase prices; (4) rents, energy prices, housing prices and medical care costs (among other things) are already so much higher that they will spill over into everything else.
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