Long before the “I” word (inflation) was fashionable, I began to issue warnings. On March 17th, 2020, I issued the first such warning with my post “Inflation Warning“. Followed by my post on May 7th 2020 with “Records Smashed“. I topped it off on June 6th 2020 with my post “Beware-Price Inflation“. Money and credit levels are still elevated. The Federal Reserve is going to react to these inflation prints. It is hard for me to believe they are going to keep pumping money like this. I am not dogmatic about the inflation/deflation debate. I let the money and credit numbers do the talking.