Inflation’s return changes the world

Will what we are now experiencing prove an enduring shift in the monetary environment or just a temporary one? We just do not know. It depends on how far high inflation has been just the product of supply shocks.

Older Workers And Their Wealth

When workers are finishing up their careers and nearing retirement what do they have? In 1992, the median wealth for U.S. households with at least one worker aged 51-56 in 1992 was $654,926 (inflation-adjusted to 2016 dollars); in 2016 they had much less, $466,900....