Embedded Inflation
Do y’all recall when inflation was “transitory?” When the Secretary of the Treasury and the POTUS used to assure us that inflation was going to come and go? That the target would continue to be 2% – which, in fact, it had been?
Well it’s more than a year later and, clearly, that is not going to happen. In fact, we are in this inflationary spiral for the long term — meaning three years until there is any relief.
How did we get here, Big Red Car?
Let’s review the bidding to see how we got here, shall we?
This chart is not lying to you. Study it.