> Inflation feeds in part on itself, so part of the job of returning to a more stable and more productive economy must be to break the grip of inflationary expe

> Inflation feeds in part on itself, so part of the job of returning to a more stable and more productive economy must be to break the grip of inflationary expectations. There were several months where officials continued to refer to inflation as "transitory," when it was obviously anything but. I wonder how much that was deliberately misleading, in an attempt to stem inflation by adjusting people's expectations. And I wonder how bad it might have gotten if officials had told the full truth.