The deflation from massive destruction of the 2008 crash is still with us and the current apparent inflation is just a transient result of supply-chain disrupti

The deflation from massive destruction of the 2008 crash is still with us and the current apparent inflation is just a transient result of supply-chain disruptions and now Russia's aggression on Ukraine. Corporations are also taking advantage of the news cycle to exercise some of their newfound pricing power, which they are already finding is transient - see the largest retailers, Target and WalMart crashing because they'll need to be using deep discount sales for months to clear inventory. So, that inflation is already crashing back into deflation, as seen in a range of asset price declines and the corp behavior just mentioned. The central banks have been trying to reflate since almost a decade and a half ago, and it still isn't working. Anti inflation-measures now will make it worse.