About inflation: We had basically zero inflation for a decade. That's long enough for people to get used to it. When inflation hit, it felt like "that's real

About inflation: We had basically zero inflation for a decade. That's long enough for people to get used to it. When inflation hit, it felt like "that's really high", because we were comparing it to zero, and it was really high by comparison. But that meant that the emotional impact was higher than the real impact. (I'm not minimizing the real impact! But the emotional impact was out of proportion, and higher.)