[SpicyLemonZest]

Businesses don't transact in inflation-adjusted dollars, so this analysis doesn't work with respect to the practical decisions they face. When you go to get a loan at 4% (plus whatever spread), the interest you're paying on that loan doesn't "adjust against" any price increases you charge to your customers or have to pay to your suppliers. This is especially true because those price changes are 4% only on average; your costs might go up 10% rather than 4% and your customers might not accept any increase.