I worry about inflation though. Seems hard to believe that 25% tariffs, $15 hourly wages, 90 dollar oil, record high asset prices doesn’t result in some sort of wage-price spiral.
The $90 oil though is not being matched by commodity price increases, so I am not sure the price is justified. Especially not with oil production in the US breaking records.
I agree though. Even 2% inflation is never benign.