The Fed knows this 

 Agreed. 
It’s why they have pivoted attention to the unemployment rate. 

 The 70'/80' déjà vu.. but with 3/4 times bigger national debt. 

Everything is fine.. 🔥🔥🔥 

 We will only see mild inflation acceleration from here. Very unlikely to repeat the 1970s. 

 Let's see, I wouldn't bet on it 😅 

 Rising inflation with rising unemployment? What will the Fed do 👀 

 I read these companies' earnings calls and these don't feel like companies that can raise prices. People will be lucky to keep their jobs if companies can't improve earnings. And China is exporting deflation.

I still think this gets revised and inflation will continue down. 

But I'll read into it.