Inflation of 7% is not a problem.
The government programs passed early in the Biden administration (American Rescue Plan, Infrastructure Investment and Jobs Act) pumped much needed cash into the pockets of people and families needing help living indoors and eating.
Those folks could then do what they needed to do and they spent that money back into the economy.
Businesses did what businesses most often do when approached by customers with money to spend; they raised prices.
Inflation will not stay this high.
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