The Heritage Foundation's report highlights that recent increases in the Consumer Price Index (CPI) are mainly due to pandemic-related supply disturbances. To address this issue, Congress must eliminate government-imposed economic roadblocks that create upward price pressures and address pandemic-related disruptions driving price increases. The report emphasizes that Congress or the Federal Reserve should not enact new policies that would worsen the current economic outlook. It would be a mistake to dismiss consumers' inflation fears, especially given the role that expectations can play in future price levels. The report can be found at http://report.heritage.org/bg3650.
