Whether Inflation Matters, and whether the current inflation upturn will be transitory

Essay topic:
“Does inflation matter? And will the current inflation upturn be transitory or not?”
Essay must construct a convincing argument using economic theory and real-world examples 

– You need to provide a summary of the answer to the above essay question. clear answer and why you constructed such argument.
The obvious answer would be 
– yes inflation matters, 
– but on the question of whether it will be transitory or not, can be argued on both part. Choose on that has more solid ground, from the point of economic/finance theory and real life examples. Trend seem to be negative (i.e. inflation will be not transitory)
e.g. https://www.forbes.com/sites/adamstrauss/2021/07/30/here-are-six-reasons-why-inflation-will-not-be-transitory/?sh=527e18d259ca – this can be a good writing example of what we are working on. I’d like something like this but with more references and data
https://www.cbsnews.com/news/inflation-transitory-issue-federal-reserve/
https://www.reuters.com/business/inflation-wage-data-challenge-fed-transitory-narrative-2021-11-01/
https://www.bloomberg.com/opinion/articles/2021-10-11/transitory-inflation-the-fed-should-strive-to-make-it-permanent
https://money.com/what-is-transitory-inflation/

Format
-no longer than 2,500 words long.
-should include a bibliography(not included in word count) and Harvard style referencing(reference counted in word count).
*** In addition to formal citation, provide ALL URLs you used, wherever used, in very detail,  as a foot note or in text. Even if you only took just one sentence from a URL, provide such URL so that I can verify and check.
– Double space A4 in Arial size 12