My concern is that, as opposed to a couple of years ago when we heard “low for long”, we're now starting to hear from some experts that we may have “high for long”. We may have structural inflation. I think you referred to 2025. I've heard even longer than that.
I'm going to give you an analogy. You guys are much smarter than me, but for a simple politician like me, inflation is largely the product of demand being out of equilibrium or out of whack with supply, meaning that there are more people who want things than there are things available. Halloween is coming up, so let's use the example of pumpkins. We have 100 pumpkins and 200 people who want them. The result is that the price goes up. My thinking as a simple politician is this: Why don't we just increase the number of pumpkins to bring supply in line with demand?
Does that make sense to you, from a simple politician here?