Inflationary Boom Continues

Check out the accompanying pdf and chart collection. (1) Fed’s wish to overshoot inflation target has come true. (2) The temporary base-effect-and-bottleneck theory of inflation (BEABTI) is getting harder to believe. (3) CPI got hotter in June. (4) Base and baseless effects. (5) Are inflationary expectations well anchored? (6) More small businesses passing higher costs to higher selling prices. (7) ECB adopts FAITH. (8) Tapering will follow substantial progress. (9) Handicapping odds of Biden’s tax plans.