New piece, on the 3 arguments against recent inflation being a cost-push supply shock: - why wasn't there deflation? - why was inflation broad? - what about job openings? and giving a sense of what we know. Using @ivanwerning.bsky.socialmikekonczal.substack.com/p/the-three-...

The Three Open Questions When it Comes to Our Cost-Push Supply Shock Inflation

In which we seek to lock down better answers for everything that just happened in light of the historic disinflation of the past year.