The problem of inflation, now often attributed to pandemic-induced disruption, probably has a deeper basis. In Barron's there is an interview with Felix Zulauf who predicts that after the Fed quells the current bout of inflation, there will come another surge even higher. Early signs of this are lower inventories in housing, higher used car ownership (@asymco numbers), low investment in infrastructure. Macro factors from deglobalization, anti-immigration, climate change impinging on agriculture, all contribute to this view.