If The Fed Is Wrong On Inflation It Will Drive The Economy Into A Ditch

If The Fed Is Wrong On Inflation It Will Drive The Economy Into A Ditch

Shipping containers stacked at the Port of Los Angeles. (Photo by Mario Tama/Getty Images)

Inflation is hitting very high numbers – CPI, for example, is at its highest level since 1982. But what is driving it? Some blame too much money in the system. Others say it’s consumer demand. Yet others say that the scarcity of goods and labor is pushing up the cost of everything. Or all three.