Why do we have inflation? Is it because of too much state relief spending in relation to COVID in March, 2021? Surely it must be because of the “Evil Putin’s” operation in Ukraine! Or could it be that US households are flush with cash from the “boom” of rising wages? All these are fallacies and excuses to hide the fact that capitalists are raising prices to make up for their losses during COVID and keeping wages low. Jack Rasmus explains why inflation will get worse and the Fed’s hiking of interest rates won’t stop it.