Though he has—at last—recently acknowledged that high inflation isn’t quite so “transitory” after all, Federal Reserve Chairman Jerome Powell nonetheless still blames pretty much everybody but himself for the most rapid rate of producer and consumer price increases in 40 years. As I have quipped often, he has become adept at deflecting blame for these high prices HE is the proximate cause of onto any real or perceived bogey man. “Joliet Jay” is every bit the disingenuous con man in this regard as was the iconic Joliet Jake Blues back when Carrie Fisher had the latter at gunpoint. Sure, in the present case, a number of elements have exacerbated price rises in some instances, especially as the largely self-inflicted disruptions to supply chains worldwide have led to shortages. But make no mistake: the truism of what the late Milton Friedman said will not be changed due to simple mathematics: “Inflation …