Yeah, because the US raising their minimum wage was the only significant thing to affect the World economy the last three years. /s

I'd say post-pandeming fumbling, pumping billions into the (global) economy combined with an energy crisis and a food shortage looming over some parts of the world, supply chain issues leading to scarcity for some things previously considered readily available commodities, not to mention a certain special military operation in Europe have also contributed.

It's a perfect storm consisting of things that many considered unthinkable five years ago.