Originally Posted by
BoilerUP
2000-2020 CPI averaged 2.1%. In that 21 year time frame, CPI has exceeded 3% only five times.
2021 is gonna be a big one, no doubt...but while I've never bought the "transitory" line from the Fed I think there's scant reason to believe these kinds of sharp increases will continue at the same rate for years on end into the future.
"Transitory" inflation cycles (in the US) have generally lasted 18 to 24 months. This one seems in line with that... happened in 80-82, 89-90, and now, not a big deal unless you're at minimum wage (why in the $*#@ is that so low again by the way? is it freedum?) or not under a CBA (unfortunate for most 'mericans, though they do it to themselves).