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How Will Inflation End? – WSJ

Inflation is now, incontestably, the leading issue for the electorate, and voters are giving the Biden administration low marks for handling it. This is a political crisis for Democrats, who are battling to retain their House and Senate majorities in highly unfavorable circumstances.

It is also a challenge for the establishment economists—in academia, the administration and the Federal Reserve—most of whom misjudged the issue until the reality of high, rising and persistent inflation became too obvious to deny.

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