I'm More Concerned About the Inflation Than the Stag Flation

i find the whole transitory story a little irksome, to be honest. Anyone who knows or studied monetary economics knows that we have what are called injection effects. And it means that the disproportionate impact that new money has makes permanent distortions. Even if this inflation is transitory, whether that's in three months or five years, the higher prices paid and other outcomes are going to be baked in. They're going to be permanent. I'm way more concerned about the flation than the stag.