Get ready for deflation
New York Magazine on five obvious signs of a bubble economy (NASDAQ down 30% this year, crypto companies naming stadiums, SPAQs failing (whatever those are), the skeptics giving up, NFT sales down 90%)
Last time gas prices were this high was 2008, ring a bell.
It isn’t inflation if salaries aren’t going up. It’s just price increases.
Anyway I think inflation will solve itself pretty quickly even without the interest rate hikes, which will really help trash the economy.