The return of inflation is what made Donald Trump's second presidency possible, and therefore what makes everything that presidency changes possible.

Historian of ideas at Stanford University and the Hoover Institution

And so my argument is, that has now opened the door to the presidency of Donald Trump, which is potentially a deeply transformative moment that will change the size and shape of government, that may change our foreign policy profoundly, that may change our immigration policy, that may change the demographics of our country, all of that, and my thesis is that that's all been made possible by inflation.