The Nature of Inflation

After about 40 years of fairly stable inflation at a low level, we suddenly have so much of inflation compressed into a short period. What's scaring capital and especially the Federal Reserve is that even though workers haven't caused this, no one can really make any kind of a credible case to say that workers caused this in trying to deal with it. So what we're going to see is that even if this strategy of raising interest rates doesn't lower inflation, they'll just bump it up. I mean, if what they've done so far doesn't break inflation, they will go further and they'll risk deep recession as Volcker did. And this is really going to apply very much to