Is There Evidence That Inflation Is Transitory?

We don't have a lot of episodes. We had big inflationary spikes like 20, 30 years ago, and we haven't had them recently. I think the scenario that is conceivably concerning is inflation starts to rise. When rates start rise, it signals to lots of folks that this very benevolent period of very, very low interustras has come to an end. That leads to a retraction in investment. And then your entering into a world or what's called staglation. What does that mean? Both inflation and low growth? Ye, you recalibrate. But no one quite knows how to undo that mess, right? Because it's this intricate puzzle where everything depends on