The good news: inflation isn’t what it was a year ago. The bad news: Americans still pay more for shelter, food, and energy – and may hold lawmakers accountable for the high costs in the next election. Mickey Levy, a Hoover Institution visiting scholar and senior economist at Berenberg Capital Markets, discusses the root causes of higher inflation, a more recent phase of “disinflation,” the Federal Reserve clinging to the notion of “transitory” higher prices, plus the consequences (and questionable wisdom) of the federal government engaging in economic stimuli.

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