Inflation has been a phenomenon since before there was money. Prices, generally, always go up. (There are exceptions to certain things, like consumer electronics.) You do NOT want prices to go back down. That’s recessionary and will be much more painful than the now-abated inflation. Also, since real (inflation-adjusted) wages have gone up, people actually have MORE spending power, not less. (If you don’t, and you can’t cut it in this powerful economy, go look in the mirror. The answer is there.)
Two drops of water, floating on a wave approaching the shore. One drop, noticing that the waves were crashing against the shore, exclaimed to the other, “Look ahead! The waves are being crushed! We’re just drops of water; we’ll be killed!” The second drop said, “Do not fear. We are not drops of water. We are the ocean.”
That’s Hall alright. I guess no Oates.