June 8, 2021—Chief Economist Luke Tilley explains our expectations for the path of inflation through the end of this year and into 2022 for the following reasons:
- The pandemic and stimulus were a one-shot deal—As the economy reopens and people begin spending on services, much of the inflation will likely subside
- The best cure for high prices is high prices—We expect higher supply despite supply chain issues, which will help moderate price increases
- Increased productivity—Industries have learned to make more with less people
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