America is in a new era of uncomfortable inflation. It’s likely to last longer than anyone wants.

 America is in a new era of uncomfortable inflation. It’s likely to last longer than anyone wants.

However, other economists argue that what is occurring now is still largely related to the pandemic, with a surge in demand for goods causing supply bottlenecks and the need to rehire workers much faster than anyone expected. They argue these pressures will subside in the coming months. They point to used cars and lumber prices, which, while still high, have come back down from their peaks a few months ago.

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