America’s inflation hawks are always prone to crying wolf. Since they spent the post-2008 years forecasting hyperinflation that never arrived, it was no surprise that so few people sat up when they issued the same warnings last year. Now the hawks are right but for the wrong reasons. The recent US inflation surge has little to do with the Federal Reserve’s easy money, as they claimed. Democrats should nevertheless resist letting their ingrained scepticism cloud their sense of self-preservation. Sustained inflation could ruin their chances of holding on to power.
美国的通货膨胀鹰派总爱喊“狼来了”。他们在2008年金融危机后一直预言恶性通胀要来了，但恶性通胀始终没来，所以当他们去年又说这话时没什么人在意，这也没什么可惊讶的。现在这些鹰派说对了，但他们是误打误撞说对的。最近美国通胀激增与他们所说的美联储(Fed)的宽松货币政策没多少关系。尽管如此，民主党人不应让他们根深蒂固的怀疑主义蒙蔽他们的自保意识。持续的通胀可能毁掉他们继续掌权的机会。