The Future of Inflation Cycles

Bob Eisenhower: In the absence of a crystal ball, I have no reason to believe that future inflation cycles will materially change from the way they've occurred in the past. The tightness of the labor market and the fact that many firms are now price takers rather than makers when it comes to paying their workers is expected to keep inflation around or slightly above the Fed's 2% mandate here in the short term. Kevin O'Neill: LIFO has been a gap in IRS approved accounting method for over 80 years. It's here to stay, and there are no current or near-term threats to LIFO.