Weren't "everyone else" expecting rampant inflation since last year, when the fed started printing money? I guess if you make that prediction long enough it'll eventually come true.
Last year? People complained about QE as soon as it appeared in the press more than 8 years ago.
People thought the USD was going to hyper-inflate in 2008-2009 and took huge bets against it... it ended up deflating.
I don’t think a few years is really very long when dealing with an economy of this size. I never expected hyperinflation, just runaway inflation.
It is, in fact, a very long time. Because economic cycles these days are 5 to 10 years long (which is pretty long historically). Being a bit off on your inflation call by just 2 or 3 years is essentially the same as being completely wrong.
Inflation doesn't happen overnight.
Government agencies don’t predict inflation. The “expectation” mentioned is a survey of economists. No info on who they ask, and there’s no reason to think those surveyed have any special insight beyond their academic training.