How will inflation end? -WSJ

Inflation is now, unquestionably, the biggest issue for the electorate, and voters are giving the Biden administration low marks for its handling. It’s a political crisis for Democrats, who are battling to hold onto their House and Senate majorities under very adverse circumstances.

It’s also a challenge for establishment economists – in academia, government and the Federal Reserve – most of whom misjudged the issue until the reality of high, rising inflation and persistent becomes too obvious to deny.


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