Transitory means the increases are temporary in nature
Posted on: October 27, 2021 at 15:47:10 CT
ummmm MU
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and will revert to pre-transitory inflation after the price shock goes away.
That is not happening. While supply constraints are not helping, the general price increases (as with all general price increases) is a monetary phenomenon due to even more unprecedented money printing.
It may not stay 5% forever, but general prices are never going back to 2020 levels.