Wrong.

Nobody wants to admit that inflation has been out of control for decades but held back behind a dam where only the 1% could swim. Now the dam is cracking and what they're really afraid of is people paying off their debt. Because most of America's "wealth" isn't natural resources or innovation. It's a bet that they can exploit people's labor for the next 100 years. That bet hinges on people having massive debt like student, home and car loans.

Inflation already happened. They're trying to drain the dam back up the mountain.