US set to dodge Biden-level inflation despite Iran disruptions

CEI’s Ryan Young was cited in the Washington Examiner regarding Biden-level inflation.

But experts say the fundamentals underlying the 2021 and 2022 bout of inflation are markedly different from what is driving the most recent uptick.

“The reason we’re not going to get 9% inflation is because monetary policy is under control,” Ryan Young, senior economist at the Competitive Enterprise Institute, told the Washington Examiner. “The COVID inflation came from $5 trillion of balance sheet growth, so that was monetary.”

Later on in the article:

Many, including Treasury Secretary Scott Bessent, say that when the war wraps up and energy prices continue to fall, headline inflation will come back down as well.

“We’re probably at or near where it’s going to peak, in the low 4s,” Young said, referring to the 4% level inflation is hovering around right now.

Mark Hamrick, chief economic analyst for the Hamrick Brief, also pointed out to the Washington Examiner that not only are economists not expecting an inflation wave as in 2022, but neither are Fed officials.

Read the full article at The Washington Examiner.