The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy. - Ludwig von Mises If one has read some statements from politicians or central bankers, one could feel that they do not like to get blamed for inflation. Instead, they are quick to blame it on someone else.
Would it be too much of a conspiracy theory to believe that the Fed, ECB and BOE all encouraged the Russian invasion of Ukraine as a way to divert attention from their own failures and create another scapegoat?
I agree that core inflation will be far stickier than many currently assume, and in fact, may have trouble going below 3.5% for a very long time. Have a good weekend