Why the Fed should worry less about sticky inflation (but probably won’t)

When future historians reflect upon the current age, they might call it “the worry years”.

As America emerges from the pandemic, there are still serious health concerns, a yawning political divide, rising autocracy around the world, a brutal war in Europe and the highest inflation in 40 years. Moreover, anxiety triggered by these genuine problems is being amplified by cable channels and social media which ever more efficiently gather their audience by appealing to fear and outrage.