Wages aren't that sticky, and in many cases (big unions, big employers) contractually give out inflation-indexed raises. So if a transient spike lasts long eno

Wages aren't that sticky, and in many cases (big unions, big employers) contractually give out inflation-indexed raises. So if a transient spike lasts long enough to be considered "inflation", then it gets baked into wage increases, which leads to higher prices, which leads to higher inflation, which leads to wage increases... Unfortunately, the govt thinks of monetary policy as their only tool to fight inflation, when in fact they have a much stronger, better one: public policy. The govt should be passing emergency legislation to vastly increase supply of the three main contributors to family spending: housing, healthcare, transportation, and education. Make it MUCH easier to build housing. Vastly incentivize cheap car replacements (ebikes, etc). Loosen drug import laws from Europe & CA like, yesterday.