From AEI:
…the US financial system is certainly performing very properly, and this may be seen most readily by evaluating its efficiency with that of different superior economies, all of whom had been hit by the identical pandemic shock in 2020, adopted by the identical inflationary surge. Determine 1 beneath compares cumulative US inflation since December 2020 (that’s, the rise within the value stage) with that of different superior economies. (Knowledge for all figures are introduced within the appendix.) Clearly, and regardless of the blame laid on Biden’s insurance policies, there may be nothing distinctive about current US inflation. It displays the identical elements driving costs world wide—supply-chain disruptions, rising international commodity costs, the pandemic shift in consumption from providers to items, and monetary stimulus.
