The hope now is that fiscal and monetary policy are at least both retrenching, if policymakers truly want to wrestle inflation back down. Remember, t… - Kelly Evans

There are too many job openings, a problem compounded by too much "phantom demand" caused by all the stimulus, and also by the lack of normal immigrant workers for political and pandemic reasons.

The oil and gas industry was decimated by the shale bubble bursting last decade, and that reticence plus labor and supply shortages are keeping it from more quickly adding to capacity now. The possibility of an external hit like a windfall tax, export ban, or other such political measures risk keeping potential suppliers on the sidelines

If public officials want to keep their credibility, they need to acknowledge this fact. No one believes that this is a great economy, or is impressed by hearing dazzling stats about job creation. People want to be reassured that our leaders see the problem, understand how they caused it, and are genuinely trying to fix it