Regarding point 1. Sure the 10 year matters. A lot. Regarding point 2, we did not stop stimulating the economy 12 months ago. We are still stimulating the econ

Regarding point 1. Sure the 10 year matters. A lot. Regarding point 2, we did not stop stimulating the economy 12 months ago. We are still stimulating the economy with negative real interest rates, a relatively high level of deficit spending, and a large federal reserve balance sheet. The only stimulus we have wound down is the pandemic loans/grants, extra unemployment benefits. We are only starting to unwind the FED balance sheet. And, real interest rates are very negative. These last accommodative measures are occurring in the midst of a fairly good economy (very low unemployment, rising wages, etc). That is why we are seeing inflation accelerating. Okay, these are all demand issues, and you point to the concomitant supply issues as well. And I agree. The supply issues certainly make it worse.