Inflation is the sort of thing most people don’t really focus on until it begins to soar. And that’s precisely what started to happen around mid-2021.
Earlier that year, lawmakers approved a round of stimulus checks that put $1,400 checks into Americans’ bank account. That put consumers in a position where they had extra money to spend at a time when supply chains were getting battered. That led to a disconnect between supply and demand, and rampant inflation ensued.
But will inflation be gone by 2024? Not exactly.
This post originally appeared on the ascent.