In Praise of Monetary & Fiscal Folly

(1) Rent inflation is currently a headwind for overall inflation. (2) Here is how it could turn into a tailwind for inflation. (3) Demand for houses outpacing supply. (4) Shortage of homes for sale and declining affordability are depressing would-be homebuyers. (5) Rent has a big weight in consumer price measures. (6) The Phillips curve could rise from the dead. (7) Rent inflation correlated with wage inflation, which remains high. (8) Watching them make sausage in Washington. (9) Counting blue and red heads in the Senate. (10) Reconciliation Part II: Build Back Better. (11) Compromising with Manchin.