Jack probably top-ticked it

Jack dorsey hyperinflation tweet

Twitter CEO Jack Dorsey hopped into macroeconomics on the weekend with a tweet that reverberated.

Obviously we're nowhere near hyperinflation anywhere, not even in Turkey where the currency is hitting record lows daily.

While Jack was showing off the quirks of exaggeration on his platform, another user showed it's power. Flexport CEO Ryan Peterson wrote about the port backlog in California behind some of the bottlenecks.

Ryan Petersen port tweet

After summarizing all the issues, he suggested this:

Ryan Petersen port tweet 2

Just hours later, the Mayor of Long Beach tweeted this:

Robert Garcia long beech port

The poetry of all this is that while Jack is fearmongering about hyperinflation, his own platform is helping to end the bottlenecks and pull down inflation.

Like everyone, I'm finding the inflation argument to be a tough one. I don't think there's a clear answer yet. The inflationary winds have certainly been blowing but the Fed has a hammer and Powell's comments on Friday are a reminder that he's not afraid to use it. What was interesting was that long-end yields fell on those comments, suggesting that the low inflation that's plagued the economy for the past decade is just as big of a risk.

One thing I will be watching for this week is an announcement about who will be the next Fed chair. If Powell gets replaced with Brainard, I think that inflationary worries will pick up further.