After WW1 (1919-1921) there was a couple years of high inflation followed by a couple years of deflation. It was *also* the last time the US faced a pandemic (Spanish flu). When COVID first hit we were told not to rely on comparisons to the Spanish Flu, because there was a war in Europe back then. Well, that difference has been "fixed" now - so it might make sense to look at it a bit more closely.
After WW1 (1919-1921) there was a couple years of high inflation followed by a couple years of deflation. It was *also* the last time the US faced a pandemic (Spanish flu). When COVID first hit we were told not to rely on comparisons to the Spanish Flu, because there was a war in Europe back then. Well, that difference has been "fixed" now - so it might make sense to look at it a bit more closely.