Top economists give clues on what's next for global inflation

To understand what it will take to achieve the “last mile” of bringing inflation down to normal, you need to understand why it shot up so quickly in the first place.Why it matters: Two of the leading economic policy minds of the last generation have sought to do just that in a new paper, unpacking why global inflation took off in the early 2020s — with results that suggest this inflationary episode can end with less pain for workers than in the 1970s and ’80s.Ben Bernanke and Olivier Blanchard, in a paper out Thursday morning, find that the global inflation shock started with…