But really tho:
Do they seriously not understand how money works?
As the economy picks up in the wake of the Covid pandemic, concerns about inflation are also gaining steam. Already, prices on some goods, like cars, are noticeably higher, stoking fears that a sudden uptick in inflation will decrease purchasing power over time. Although consumers may pay more for everyday items, companies facing a labor shortage are also paying more to get workers to walk in the door.
See, the fundamental principle CNBC is building this entire article on is the economic theory known as "Money Printer Goes Brrr."
Later on, they acknowledge that "some" economists are worried about inflation:
[S]ome economists fear a too-rapid increase in wages could prompt companies to raise prices and create the very phenomenon of inflation, causing more harm than good.
But then they IMMEDIATELY tell you that you should just trust America's favorite grandpa and the Fed:
President Joe Biden has rejected this view. "A lot of companies have done extremely well in this crisis, and good for them," he said in a speech in May.
"The simple fact is, though, corporate profits are the highest they've been in decades," the President added. "Workers' pay is at the lowest it's been in 70 years.
"We have more than ample room to raise worker pay without raising customer prices."
The Federal Reserve has also downplayed recent inflationary worries, saying they expect the current spate of price pressures to fade over time as the economy gets back to normal.
C'mon man, just trust the experts already! They are always right about everything, including COVID, the 2008 recession, and the 2000 tech-bubble burst!
It doesn't matter how much prices or wages are artificially raised due to the stupid decisions of our leaders. The very concept of money itself is attached to what the individual person is willing to trade goods and services for, not what Joe Biden or the Fed say it should be.
