Now that US Fed J. Powell (last week) and BOC Governor Macklem this week creating their own definitions of what temporary inflation means to fit their definition, inflation will always "be under control". Just like US Fed's 1.6% inflation estimate, the markets' 2.6% inflation estimate and in reality higher actual inflation rates.
But the real scary part - if there is no economic growth behind it no matter the inflation number.
http://www.bnnbloomberg.ca/transitory-but-not-short-lived-macklem-maintains-boc-has-inflation-under-control-1.1678767
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