Inflation is Still the Problem

What happened: A Rational Dissent podcast episode argues inflation remains the central problem, citing post-COVID structural shifts including deglobalization and tariffs. Key numbers: 3% inflation world; 5% nominal growth rate; 5% interest rates; episode chapters at 02:22, 06:36, 11:15, 15:02, 23:38, Why it matters: The episode says cheap goods deflation that once offset services inflation is gone, and argues the Fed should focus on nominal GDP. Summary: The episode contends the U.S. is settled in a 3% inflation world and that a 5% nominal growth rate justifies matching 5% interest rates.

A Rational Dissent podcast episode argues inflation remains the central problem, citing post-COVID structural shifts including deglobalization and tariffs.

The episode says cheap goods deflation that once offset services inflation is gone, and argues the Fed should focus on nominal GDP. Summary: The episode contends the U.S. is settled in a 3% inflation world and that a 5% nominal growth rate justifies matching 5% interest rates.