Inflation has moderated from peak levels last year, but as recent numbers show, it’s still not as low as anyone would like it to be. The Federal Reserve has done its part by raising interest rates 11 times and keeping them at 23-year highs. Will it be enough? Perhaps, but some economists say we’re in a new era of higher inflation driven by sweeping global trends.
Whether it’s permanent or temporary, costs are rising due to multiple forces, including onshoring and near-shoring initiatives, ongoing trade tensions with China, the transition to green energy, a tighter labor supply, higher wages, and an aging population pushing up healthcare expenses. Our current predicament illustrates that society needs other ways to fight rising costs.
