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This is the Cato Daily Podcast for Friday, December 31st, 2021. I'm Caleb Brown.

This year gave us new waves of COVID-19, massive government spending, and now at long last genuine inflation like the real deal.

Cato's Norbert Michelle discusses the unfortunate denial of the reality of

inflation by some members of Congress and some members of the

Biden administration and what we might expect going forward. We have seen

increases in consumer prices.

We have now, as of this recording, have seen increases in producer prices, which is sort of the

front end of the snake when it comes to consumer price inflation.

And in general, I guess it seems as almost as if the political leaders, Joe Biden, Chuck Schumer, and others are, in a, I guess in my view, denying

the reality of where we are, or at least have been. Maybe they've stopped now, but you have

Jen Saki, the White House press secretary,

...