The Labor Department recently reported a 7.5% increase in the consumer price index in the month of January, the fastest inflation growth since 1982.
While inflation rates at 40-year highs may seem scary at first glance, economists say today's economic situation is far different than the period of hyperinflation in the late 1970s and early 1980s.
Deja Vu?It's understandable why the recent climate of soaring commodity prices, skyrocketing money supply and massive government spending initiatives are drawing comparisons to the 1970s.
Government stimulus payments boosted consumer demand during the pandemic. Throughout 2020 and 2021, the U.S. Federal Reserve chose to let inflation rise...
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