The conditions that caused Powell/Yellen to claim inflation was transitory have not subsided, in fact they've gotten worse in some ways. Continued lock downs in

The conditions that caused Powell/Yellen to claim inflation was transitory have not subsided, in fact they've gotten worse in some ways. Continued lock downs in china means manufactured goods are incredibly scarce. Ukraine war means food and oil and scarce. Obviously they were wrong to say transitory, but not for the reason you seem to think.