I will add that I found this type of analysis for why inflation was higher in the US persuasive. For example, this study from 2022 by the Federal Reserve Bank of San Francisco found that likely 3 percentage points of the higher inflation (basically all of it at the time) in the US compared to other rich countries was due to the stimulus in the US. But yes, I agree that the history of low inflation (and I believe lower stimulus than was appropriate during The Great Recession) made this a reasonable mistake to make.
I should note that the purpose of my post wasn’t to make a point about the pros and cons of different policies. I just wanted to point out that the personal experiences of voters were probably pretty different than most of us were thinking. I feel like I should have put more thought into making that clearer. I’ve been enjoying our conversation though!
Thanks for sharing your expertise.
I will add that I found this type of analysis for why inflation was higher in the US persuasive. For example, this study from 2022 by the Federal Reserve Bank of San Francisco found that likely 3 percentage points of the higher inflation (basically all of it at the time) in the US compared to other rich countries was due to the stimulus in the US. But yes, I agree that the history of low inflation (and I believe lower stimulus than was appropriate during The Great Recession) made this a reasonable mistake to make.
I should note that the purpose of my post wasn’t to make a point about the pros and cons of different policies. I just wanted to point out that the personal experiences of voters were probably pretty different than most of us were thinking. I feel like I should have put more thought into making that clearer. I’ve been enjoying our conversation though!