The price of lumber has crashed, the price of copper is falling, the price of used cars may have peaked and Bitcoin dips again.
Inflation is a sustained rise in prices — the keyword is sustained. It is only inflation keep going up. Inflation hawks have been busy pointing to lumber prices, to the copper price and the cost of used cars — they all shot up recently, ergo, said the hawks, panic.
Fed turns hawkish but misses The Great Disruption
As any technologist would tell you, and most certainly any Techopian, “don’t panic.” And also, don't forget your towel.
But those who are not familiar with Douglas Adams and don’t get the towel joke, there is another anecdote to the ‘it’s time to panic’ command. The anecdote is facts.
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