I wonder, to what degree are the drivers of inflation tied to Main Street trends (jobs numbers, consumption spending, etc) vs Wall St trends (asset bubbles, mon

I wonder, to what degree are the drivers of inflation tied to Main Street trends (jobs numbers, consumption spending, etc) vs Wall St trends (asset bubbles, money supply, expectations, etc)? I recall in 2008 discussing this divide a lot. Finance recovered, but normal people never did. Whereas both sides used to be codependent, the stock market rose in ‘09 when folks still didn’t have jobs. I wonder if we’re bringing things back in line now. Inflation IS declining, the last MoM report notwithstanding, even as we’re adding net jobs. Perhaps I’m a bit optimistic. But could we finally be actually recovering from ‘08?