Inflation — from WIN to DIN

And just like that, we’re back at the Volcker era — except there’s no Volcker in sight:

Colby Smith for the Financial Times:

US consumer prices increased at the fastest pace in nearly 40 years in November, piling more political pressure on the Biden administration as it seeks support for a massive spending plan.

The consumer price index, published by the Bureau of Labor Statistics on Friday, rose 6.8 per cent last month from a year ago — the fastest annual pace since 1982 and a significant pick-up from the 6.2 per cent rate in October…