Inflation: Blast from the Past

Check out the accompanying pdf and chart collection. (1) Similarities and differences between now and the 1970s. (2) Productivity should make all the difference. (3) Our upwardly revised inflation forecasts. (4) Commodity prices still rising. (5) Labor shortages empowering workers. (6) Short-term wage-price spiral unlikely to persist if productivity grows. (7) Biden puts OPEC+ in driver’s seat. (8) Hilarious US Energy Secretary laughs out loud. (9) Policy response to climate change is inflationary. (10) Record US imports despite supply disruptions. (11) Moderating and accelerating inflation components. (12) “China price” now a source of US inflation. (13) Movie review: “Silk Road” (+ +).