Goldman Sachs Economists Believe Today's Inflationary Pressures Are Not as Severe as in 2021-2022.

Goldman Sachs economists Joseph Briggs and Megan Peters believe today's inflationary pressures are not as severe as those in 2021 and 2022, citing a key difference between then and now: supply constraints were widespread during the pandemic, while today's pressures are largely due to an energy supply bottleneck in the Middle East. The price of crude oil has surged by as much as 70% this year, but the economists see this as a narrowly concentrated supply shock that may not filter into the broader economy.