Gradually, the economic gurus are coming to admit that calling inflation "transitory" was mistaken/misleading. The OECD is now predicting inflation of over 4% in the US - in 2022!!. No policymaker could credibly still categorize a 2 year spurt in inflation transitory.
The fact that predictions and forecasts made now are pre-omicron does not change the overall trajectory and the sense of alarm investors should be feeling now.
