Commentary Inflation has skyrocketed, and aggressive monetary policy is the key factor in understanding it. I already explained it in my article “The Myth of Cost-Push Inflation.” The Federal Reserve has finally recognized this and has made a U-turn to its policy of keeping buybacks and rates low. The Federal Reserve now expects core inflation to remain above 2.7 percent in 2022 (previously it expected 2.3 percent) and that it will be above 2 percent in 2023 and 2024. That means the consumer price index will probably remain above 4 percent in that period. Considering that it will close the year above 6 percent, we’re talking about an inflation of more than 14 percent in three years, a great risk to the recovery, real wages, family savings, and investment. The Federal Reserve has at least acted and will reduce its monthly sovereign bond purchases by $20 billion and mortgage-linked assets …