I'm not referring to policy as much as actual economic activity and firm behavior, including pricing. It's true that prices and wages increased through COVID,

I'm not referring to policy as much as actual economic activity and firm behavior, including pricing. It's true that prices and wages increased through COVID, but I don't believe the full explanation is quite so neat. For instance, this article lays out some additional details.[0] Essentially, commodity pricing and other production inputs have stabilized, however, companies are charging their customers higher prices and enhancing their margins. This is yielding record corporate profits and helping to fuel the bull market while consumers end up eating the resulting inflation. Yet, there's relatively little discussion about it when the issue of inflation is raised. [0] https://archive.is/ZTkw3 https://archive.is/ZTkw3