Inflation stays for the holidays
No issue has been more politicized over the last six months than the sudden reemergence of inflation. For those keeping score at home — and many of us are whenever we buy our groceries — the latest report puts the current inflation rate at 6.8 percent, the highest since 1982. How one perceives the inflation threat depends as much on one’s political beliefs as it does on economics. Many conservatives are inclined to see this inflation as a more permanent fixture of the economy, believing it to be a consequence of the ongoing profligacy of the Biden administration. Democrats, in contrast, have tended to characterize the phenomenon as largely transitory and more a result of ongoing supply issues related to the pandemic.
