Jordan Eliseo

Jay what is 'healthy inflation'. Surely if inflation is 'only 1%' then that's closer to 'price stability' than 2% or 3%. And as you say, the LFPR plunge is hiding the true state of unemployment in America (as is the lack of mainstream analysis on job quality vs quantity). Surely the average American is better off in inflation remains low, rather than high. Gallup poll just out showed a decent % of Americans see themselves in a worse position over last 12 months, despite 30% rally on Wall Street and +10% house price rise.

Jay Soloff

Presumably higher inflation would lead to higher home prices as well, a boon for the average American. Perhaps more importantly, higher inflation would devalue current debt overhang - still a major drag on the economy and consumer spending.