The ever-more-tiresome issue is that the textbook, accepted-by-rote relationship of interest rates to inflation hasn't held up. The Fed has raised, raised, raised rates for what, a couple of years now? To negligible effect.

That's because nobody is calling the administration to task for allowing the REAL cause of recent spiraling costs: monopoly and oligopoly. This is straight-up corporate profiteering and price-gouging. It's infuriating to see the dereliction of the press's duty in its failure to demand answers, and to regurgitate embarrassing circular "logic" by saying "higher prices are driving inflation!"

In other news: The heat is driving up temperatures around the world.