The huge amounts of monetary inflation of 2020 have indeed been translated into price inflation in 2021. Yet with the Fed now poised to slow things down, we might find asset inflation could suddenly go into reverse.
Tariffs and trade controls are little more than tax increases and a chance to further empower a bloated bureaucracy. Not surprisingly, Biden doesn't appear to be enthusiastic about embracing free trade.
It's a bit rich that European central bankers are decrying the alleged risks and dangers of bitcoin. After all, the euro currency poses many destabilizing dangers and risks of its own for the European economy.