Any economist who didn’t expect inflation should quit and go live in the woods.
“Any economist who didn’t expect inflation should quit and go live in the woods.”
That’s pretty close to what I’d have said, but you said it better.
You put trillions in circulation that didn’t exist before, and you use a pandemic as an excuse to cut productivity by a lot and as a result of the economic forces of more money chasing fewer goods and services prices do what? - High school economics pop quiz question.
What about wokeness driving out white privilege and thereby eliminating the greed that causes people to charge high prices?
The economists take a poll of chimps in the zoo and then announce the results as their “expectations”.
Inflation was not just expected, it was the goal.
5.9% unemployment with inflation is arguably better for more people than 24.9% unemployment with deflation. (Some students of economics may remember that FDR devalued the dollar by about half - by revaluing gold - during the Great Depression. That - and WW2 - ended the Depression.)
* I'll just add that Alexandria Ocasio-Cortez is an economist by education (as well as a bartender by trade).