I'm going to believe the massive study over your single data point
HN doesn't live in "America" - we live in a bunch of different cities with different economies.
This is actually a key problem with the Fed's tools -- they're national in scale. Inflation can be low in Acron, OH, but very high in San Francisco.
I think it's actually 20% for the top 100 cities; but a total of 62.5% of the population actually live in cities (82% live in urban areas - due to increase to 89% by 2050)
https://www.nationalpopularvote.com/100-biggest-cities-have-...