As people attempt to downplay the threat of inflation, for example, from the New York Times. . .

An excerpt:

Yet many inflation experts point out critical differences between this era and that one, from the decline of unionization to the ascent of globalization and shifting demographics, and say those discrepancies are part of the reason faster inflation is likely to be short-lived this time around. White House officials — including Brian Deese, Mr. Biden’s top economic adviser, who is 43 — say they expect price pressures to calm.

. . .the Biden administration did meet with former Clinton Treasury Secretary Lawrence Summers to discuss just how much we’re at risk from inflation:

In summary, we’re in a worse place today than in the 60s and 70s: