Inflation is neither some random thing that affects your finances nor exclusively the result of printing money; it also can reflect real-world phenomenon. Consider this UPI report on Fed Chair Jerome Powell’s statement on inflation:
Federal Reserve Chair Jerome Powell highlighted a significant yet often overlooked contributor to the persistently high inflation rates: soaring insurance costs. Powell emphasized in congressional testimony that various types of insurance, including home and car insurance, have experienced substantial surges in recent years, impeding the Fed’s efforts to achieve its 2% inflation target. He noted, “Insurance of various different kinds — housing insurance, but also automobile insurance, and things like that — that’s been a significant source of inflation over the last few years.”
Climate change is overwhelmingly attributed to our fossil fuel economy, in case you were wondering, and climate scientists have been warning about it for two or three decades now. Think about who consistently defends the fossil fuel industry, while denigrating cleaner technologies, when listening to some politician harp on and on about inflation.
