Inflation is Good The news yesterday about the surprising rise in U.S. inflation spooked markets and has President Biden’s team scrambling to avoid political blame for the problem. The problem is average consumers see the price of food, fuel and housing eating up their income at a faster rate and leaving them broke. But some on the political left worry that the situation will not just spook markets and consumers but the U.S. Congress as well, threatening passage of their long-sought trillions of dollars more for social and environmental policies. Jon Schwarz of the politically left newsletter called The Intercept tried this unlikely to work spin on the situation: “inflation is often good for most of us” - it is just the l...