First published by Money Metals Exchange here: https://www.moneymetals.com/news/2023/06/05/inflation-end-game-everyone-pays-and-no-one-benefits-002753

America may now be entering the part of the inflation cycle nobody likes. The feeling of prosperity cultivated by COVID stimulus payments, expanded unemployment benefits and student loan forbearance is wearing off. Prices for goods and services caught up with the temporary surge in incomes. Bank savings are disappearing.