The Inflationary Battle Is Going to Go on for a Long Time

If your entire macroeconomic strategy is based on compressing inflation via wages, your assumption is wages can fall. And that means maybe that the inflationary battle is going to go on for a long time. So our tolerance of inflation has to rise to reflect the fact that wages cannot fall because there aren't enough workers. In order to do that, that would profoundly change everything. That means that at the end of the day profits will fall, wages will rise. Absolutely. I'm raising my fist as he speaks. This is John, Ilic, Landon, Davidoff. We'll figure out how to get around 2% inflation target in coming months.