How the Home of America's Worst Inflation Got That Way
While the world's multimillionaires and billionaires (and multibillionaires) ponder inflation and supply shortages in the Swiss Alps, they might get a better view from the dusty landscape of Midland, Texas. Residents of the oil town have lived through inflation around 10% or higher for six months. Even worse, the forces driving up prices there may take months or even years to unwind.
Bloomberg reporter Katia Dmitrieva takes listeners to that West Texas boom-and-bust community, home to the highest inflation rate among roughly 400 metropolitan areas tracked by Moody's Analytics. While there…
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