My friend Jared Bernstein calls our attention to the rebirth of the inflation hawks. Apparently, there is a new craze among economists to say that we are in a period of structurally higher inflation.

The sustained surge in inflation around the world following the pandemic has raised the possibility that the inflation process has become more persistent. Such a rise in persistence could result from ...

Markets behave as if the UK inflation process has changed. The data suggest it has not. Britain has been hit by one shock after another since 2020 — pandemic supply disruptions, the energy crisis ...