It feels like each of the past three years have ended with an exhale — and a “thank goodness it’s over.” It would be a shame to close out the dumpster fire of a year without learning some important lessons.
Temporary/transient inflation is so 2021
Remember in March of 2021, when Federal Reserve Chair Jerome Powell said that pandemic supply chain bottlenecks were the cause of surging prices? 2022 was a brutal reminder that prices can stay higher for longer than most expected. The Consumer Price Index peaked at 9.1% in June, before decelerating over the past five months. Through November, CPI was up 7.1% from a year ago.