The Fed has new inflation target policy so they are not going to act for a while. There should be transitory spike 3% or more (core PCE price index) then slow

The Fed has new inflation target policy so they are not going to act for a while. There should be transitory spike 3% or more (core PCE price index) then slow down to 2.5% or so for most of 2021. (PCE can jump to 4% temporarily). Then it will slow down again and Fed will again struggle to maintain desired level of inflation. --- Even journalists seem to understand terms only syntactically. Assent inflation is not related to price inflation. They have completely different mechanisms. Asset inflation does not increase wages or anything like that.