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Velshi: Inflation can be scary. But if past is prologue, it will end.


On paper, the U.S. economy is booming right now. Jobs are coming back fast, businesses are open, wages are increasing, and the stock market continues to hit records. Yet some Americans are struggling to come up with enough money to pay for goods, food, and services. It feels like everything is more expensive. It all boils down to inflation: the rise in price of goods and services. So, just how worried should we be? The Biden Administration had been calling it “transitory” - in other words, short term. Not permanent. But measuring inflation during an unprecedented pandemic can be tricky. America has seen inflation before. Each inflationary episode, different from the last. Inflation can be scary, especially if you are old enough to remember what real inflation feels like. And especially if you are on a fixed income. Fed Chair Jerome Powell has already said this inflation period has lasted longer than expected. But it will end. We just have to figure what to do to help it end sooner rather than later.