The Theory of Inflation

Theory of inflation would not fully fall absent, you know, a significant job destruction. The transitory part of the inflation has gone away as supply chains have unsnarled. We may be having a favorable, um, supply shock. I thought we'd be sort of half a point worse than where we are right now So I am pleasantly surprised But I don't think we've learned anything That would rule out Really any hypothesis about what it takes to get to an inflation rate of 2.9 let alone 2.0 from the easy disinflation that we've already seen.