@SquirrelEStuff – That’s not what I said, but there are different opinions and other answers.
I tend to exclude all the partisan calculations because I gave up on that crap long ago. But I’m not really sure whether you’re asking for straight economic data, or some kind of political forecast. In terms of the economic process some inflationary effects were probably predictable, but overall what’s happened isn’t exactly typical because of COVID pandemic impacts at nearly every level worldwide.
Did the amount of US currency in domestic circulation really increase? Technically no, because federal stimmulus payments only replaced individual earnings and business profits lost to COVID shutdowns that shrank the economy by more than 33% from March to July of 2020, with an overall drop in GDP of over 19% from 2020 to January 2022 :
Worst GDP Report Ever
https://www.npr.org/sections/coronavirus-live-updates/2020/07/30/896714437/3-months-of-hell-u-s-economys-worst-quarter-ever
Is the value of the dollar shrinking dangerously? Not really. International exchange rates are still solid against other international currencies, but domestic buying power is impacted by price surges on a range of consumer goods caused by supply related scarcities :
Value of $1, 2020 – 2022
https://www.in2013dollars.com/us/inflation/2020?amount=1
And comparing the US recovery to other world economies shows us doing better in some sectors, but not as well in others :
A Most Unusual Recovery
https://www.brookings.edu/blog/up-front/2021/12/08/a-most-unusual-recovery-how-the-us-rebound-from-covid-differs-from-rest-of-g7/amp/
But beyond all the numbers is the daily reality we all struggle with – Everything costs more, and it’s hard to find the stuff you need when you need it. My own guess on how long it takes for supplies, jobs, & wages to really catch up is maybe within the next 18 months. In the meantime all the bloviators will bitch about Biden, and in November voters will be pissed enough to vote Dems out of office. Then they’ll blame Republicans for the usual billionaire tax breaks and decline in growth, and the whole cycle will repeat itself over, and over, and over.
God bless ‘Murika.