We should expect double digit inflation or very close to it over a 5 year period, as 2% per year works to 10.4% in total over 5 years. I'm not sure what you mean by "annualized", but typically that would mean "converted such that it communicates the rate of a given period's inflation occurring over a 12-month span". We have not even been close to double digit annual inflation pretty much ever - even 2022 was only 7%. But, yes, the Fed has overshot its target significantly post-pandemic and continues to miss in 2026.
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We should expect double digit inflation or very close to it over a 5 year period, as 2% per year works to 10.4% in total over 5 years. I'm not sure what you mean by "annualized", but typically that would mean "converted such that it communicates the rate of a given period's inflation occurring over a 12-month span". We have not even been close to double digit annual inflation pretty much ever - even 2022 was only 7%. But, yes, the Fed has overshot its target significantly post-pandemic and continues to miss in 2026.
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