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Opinion

Washington’s Insouciance on the Inflation Question Is Dangerous

Washington’s Insouciance on the Inflation Question Is Dangerous
Customers shop for produce at a supermarket in Chicago on June 10, 2021. Inflation rose 5 percent in the 12-month period ending in May, the biggest jump since August 2008. Food prices rose 2.2 percent for the same period. Scott Olson/Getty Images
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Commentary

One of the most common complaints about Washington’s elite is its easy presumption of superior knowledge and insight. Few would suggest that elected and appointed officials lack knowledge or insight. What galls the public is how this elite so easily dismisses the perspectives of everyone but its own members—and perhaps the faculties of a few elite institutions where its members attended.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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