> “Additional checks will reach consumers at a time when unemployment is lower [than during the 2020 stimulus round], mobility has significantly improved, the overall willingness to spend of the general public is up significantly, confidence levels are higher, housing is strong and the savings rate is still extremely high. That is a set-up for a consumer boom.”
I doubt it. The article observes that Americans are buying a lot of stuff, but it's just redirected purchasing. We're buying more tech, and less clothes and cars and travel. Overall the savings rate is still very high, so spending is down.
There's a risk of (temporary) inflation when the economy opens back up. There is major pent-up demand for travel, but nobody will build more airports, or buy more airplanes, because it's clearly temporary. So expect some crazy prices then.
Please see my other post in the same thread, which refers to an article from Barron's, which posits a few reasons why higher shipping costs may not signal rising inflation.
No, this is a perfect setup for inflation.