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What local finance experts think about inflation and our topsy-turvy economy

After a topsy-turvy two years, gas prices are finally falling and unemployment is down. But a cloud still hangs over the American economy as inflation hits historic highs in the United States, leaving consumers and businesses to navigate uncharted financial waters.

“The U.S. economy hasn’t dealt with sustained inflation since the early 1980s,” says Erik Olsen, chair of the UMKC Department of Economics. “When I was an undergrad, it was in our memory. It’s become less important because we’ve had thirty-five years of sustained price growth and low rates of inflation.”

While some point to the 2021 American Rescue Act as a significant cause of inflation, it’s a global issue driven by supply chain disruptions and changing consumer habits. Inflation is now at a record high in the U.S., though the country still ranks somewhere in the middle among global economies, according to Forbes, which found that the U.S. inflation…

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