I'm not sure there's a transient inflation camp to go back to - the cornerstone there was the idea that inflation could correct without big impacts on capital market, real economy, or fed policy. All of those ships have sailed. The upshot is it should be possible to discuss when inflation will slow down without being a denialist.

It wouldn't be transient though...it's been 1.5 years and prices aren't going down, they are just rising at a slower pace. I don't view that as "transitory." The transitory camp thought it would be a few months, it's been almost 2 years of relentless price hikes.

Because much of the inflation, especially that which hurt consumers most, was transient. That is clearly shown by how gas prices are dropping faster than ever before.