Joij21
🔥Deny, Defend, Depose!🔥
I am of two minds of this; one, we just saw price increases do annoy people even if unemployment is at historic lows. But two, we are finally reaching a point where economic reality is becoming detached too, like everything else. Conservative voters are leading the way here, but everybody will get there eventually. The economy as the last thing voters actually respond to based on real conditions being lost will be interesting.
The inflated prices never went down inflation was controlled by causing it to disinflate not deflate. Disinflation is when you merely slow down the rate of inflation back down to a stable 2%-3% annual price increase per year, not reverse all the previous inflation over the past years before it. Only deflation does this but is however correspondence to a massive dip in GDP, central banks obviously don't want to do that so they only go so far as to disinflate rather than deflate.
However the American people are not well economically literate, so they feel entitled to believe that disinflation ought to be the same as DEflation. In other words they believe it is central banks duty to cause prices to crash and return back to the good old days and remain forever stagnant and affordable. Basically they want 2018/19 prices again.