General Discussion

"The simplest, most plausible answer is that high inflation was mainly caused by disruptions related to Covid. The pandemic caused big changes in both how we spent our money and how we worked, and it took time for the economy to adjust. These adjustment difficulties were reflected in big but temporary pressure on supply chains, as measured by an index constructed by the New York Fed, with a first bump during the depths of the pandemic — remember the great toilet paper panic? — and a more enduring problem as the pandemic subsided and spending recovered: "



"Adjustment issues were also reflected in a temporary surge in the number of unfilled job openings: "



Full article https://www.nytimes.com/2024/08/20/opinion/inflation-biden-economy.html