The White House continues to insist that inflation will soon subside and that the United States will return to pre-COVID-19 boom. But the Biden administration's regulatory agenda actually ensures that the post-pandemic economy will be completely different from what it once was. The growing regulatory burden imposed by Biden's executive order, the open hostility of his regulators to the U.S. economic system, and the return to a progressive antitrust enforcement model will dampen economic growth. All the factors that turn current inflation into stagflation will emerge.