The Biden Economy

[donquixote99]

An inflation-causing factor you do not mention is the addiction of companies to much higher than normal profits. Those that enjoy the market power to increase their prices faster than costs have been increasing have gotten used to doing so. They have been getting by with this because of the high savings rate in the populace during the pandemic period. Those consumers who can have been using these savings to satisfy their pent up demand, despite the increase in prices.