[AnthonyMouse]

Inflation is complicated.

For one thing, if wages increased as fast as prices, it would actually be a good thing. It would make it easier to make your fixed-rate mortgage payment. It would allow increased construction to bring down real housing prices without bringing down nominal housing prices and causing millions to go underwater. It would devalue your debts, and the national debt.

But a lot of influential people don't want those things. Banks would make less money in real terms because people would have less real debt. Housing speculators wouldn't get their returns. And wages are sticky, so once they go up, it's hard to get people to take a pay cut even after the supply chain issues that were contributing to higher prices abate.

So now the policy is to suppress "inflation" -- which is to say, nominal wage growth.