A reader asks: What will the inflation rate be in the U.S. for the next two or three years?
The Committee says: "Price increases will vary from five to eight percent per year over the coming twenty four months, trending towards the upper end of this range, if the formulas used are not changed and money printing is not increased.
The urge to both alter the calculations, excluding higher price increases for certain goods and services, with a view to reporting a lower numbers, will be difficult to resist as elections in November 2022 approach. This is not guaranteed but likely.
If the money supply is increased, both from printing and maintenance of interest rates at or near current levels, which will be too low to contain rising prices, true inflation of prices could reach fifteen percent per year.
These decisions are not final. You now know the range."
Bear in mind: the size, reach & effect of the USA's economic activity plus the factors now causing inflation to occur, are not limited to the USA and US dollar monetary policy. These effects will reverberate worldwide.