OK, NOW is it time to worry about inflation?

Team Transitory declares victory, but is Team Persistent actually winning?

New inflation numbers are out, and Team Transitory — the people who say not to worry about inflation and that it’s all going to go back to normal soon — are declaring victory. Core inflation, while still up over 4% year-over-year, fell to a monthly pace that’s barely above the Fed’s target of 2%:

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