Yes, after most periods of inflation, aggregate prices remain at a permanently higher level.
The rate of change slows down, but bondholders and cashholders from before the inflation don't get to recoup their lost their purchasing power.
@Austen The problem is that the passive/index funds outsource voting to shareholder services companies, which are controlled by activists who act in a manner contrary to the interests of shareholders.
This is probably the biggest class-action opportunity in history.
In a few weeks, X/Twitter will start paying creators for ads served in their replies. First block payment totals $5M.
Note, the creator must be verified and only ads served to verified users count.
Notably for liquidity, the Fed balance sheet increased this past week for the first time since mid-March.
There are all sorts of timing issues associated with the Fed balance sheet, so weekly activities can't be read into too much. But they did an uptick in loans and little QT.