Forget transitory, says the Wall Street Journal editorial board, inflation is now persistent, and very high. The Labor Department reported Friday that consumer prices in November rose 6.8% in the last 12 months, the most since 1982. This should be all the warning Democratic doubters need to shelve President Biden’s Build Back Better Act that could fuel more inflation, the WSJ says.
This inflation is exactly what West Virginia Sen. Joe Manchin warned about this summer, the editorial board writes, and he’s been vindicated.
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