I’m not so sure inflation will decline so quickly. The Fascist Leftwing US authorities are committed to destroying economic supply whether it be oil and gas, corporate after-tax profits or small business. However, demand may remain high with a record crop of Boomers enjoying retirement and Millennials entering a period of household formation. This will produce a ton of inflation.
1. Stagnant population growth.
2. Declining productivity (actual negative productivity growth).
3. Enormous personal, corporate and government debt (we simply have too much debt to pay a premium price for a lot of things).