Opinion: Why we shouldn't be so worried about runaway inflation in the US

With the federal government spending trillions to blunt the pandemic's economic damage, and the national debt mounting as a result, Wall Street and Washington are concerned about a 1970s-style surge of unrestrained inflation. What's more, rising gasoline costs, semiconductor chip shortages and the Suez Canal tanker incident have caused both businesses and consumers to worry about rising prices. But is this anxiety justified? Should Americans brace for a 1970s redux?

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