China's Depression and the U.S. Inflation Outlook

China's Depression and the U.S. Inflation Outlook

I recently published a column at Politico on the potential pitfalls with using tariffs to support American reindustrialization. Check it out!The last mile is the hardest after all.U.S. inflation was about 8% a year in 2021H2-2022H11, up from less than 2% a year immediately before the pandemic. By December 2024, the U.S. Consumer Price Index (CPI) was up just 2.9% over the previous year, while the 12-month change in the Personal Consumption Expen…