Jack Dorsey, the chief executive of both Twitter and Square believes that hyperinflation is happening and that it was going to change everything, according to a tweet on Friday. He is the only major investor who has used the word hyperinflation although many investors as well as regulatory bodies accept that there’s inflation in America and also around the world.

Hyperinflation is a word used when there are disasters such as wars, social uprisings or other crises. It describes a time period where there is a huge increase in the general price of items that are used everyday, in a short period of time.

Policymakers have acknowledged that there are inflationary pressures. Federal Reserve Chairman Jeremy Powell said these pressures could last longer than they had expected and might continue “well into next year.” He also said that the Fed will start pulling back on the extraordinary measures that were provided to help the economy. Critics believe that these measures increased inflation.

The supply chain crisis has also added to inflation woes. Consumers are spending more and buying a large number of products. However, businesses are unable to meet the demands due to labor shortages as well as the supply chain crisis.

Federal reserve officials have called the recent inflation run “transitory.” They say that the supply chain and demand issues are expected to decline in the months ahead.

Jamie Dimon of JP Morgan Chase says that the current conditions should clear up soon and inflation would not be a factor next year. He agrees that inflation is transitory.

Others like Seema Shah, who is the chief investment strategist at Principal Global Investors told CNN that she believes that the higher-than-expected Consumer Price Index in September reinforced the need to start tapering. The rise in CPI has surprised experts and food and fuel prices have increased the most.

Bob Dell who is the chief investment officer at Crossmark Global Investments told CNN that even after the supply shortages problems will be solved, inflation will not go back to zero to two percent, where it was these past few years.

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