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Supply Constraints and Inflation Expectations

Prices are rising all over the world, and leaders see no quick fix
https://www.washingtonpost.com/business/2022/01/23/inflation-global-prices-biden/

Honey, I Shrank the Economy’s Capacity
https://www.nytimes.com/2022/01/21/opinion/inflation-us-economy-biden.html
 
US Treasury Secretary Janet Yellen on “modern supply side economics”:
https://home.treasury.gov/news/press-releases/jy0565
 
To Tame Inflation, the Fed Needs to Get into Your Head
https://www.bloomberg.com/news/articles/2022-01-20/inflation-expectations-doctrine-will-get-real-life-test-with-fed-rate-hikes

Inflation Forecasting Is a Truly Dismal Science

My take: