The more people behave as if high inflation is here to stay, the more likely it is to stay. This would force the Federal Reserve to choose between inducing a potentially deep recession to lower inflation or abandoning its 2% inflation target.
The more people behave as if high inflation is here to stay, the more likely it is to stay. This would force the Federal Reserve to choose between inducing a potentially deep recession to lower inflation or abandoning its 2% inflation target.