Nice cut and paste of Bernanke and Blanchard. Notably absent from the analysis is the contribution of trillions of dollars of government spending of monies that the government did not have, devaluing the dollar.
I'm so old that I recall Biden and his cronies telling us not to worry, that inflation was "transitory." Time has proven that at least under the Biden administration's policies it's here to stay.
But not to worry. Joe has his eyes set on reality. According to him inflation was at 9% when he took office! And here's what he had to say in a recent appearance:
"When I was vice president, things were kinda bad during the pandemic..."
