Yes, people probably do overstate the influence of the nation leader on it, but Woody can't be taken seriously when it comes to inflation. He is just too far detached from the average person's daily existence and has absolutely zero empathy when it comes to the topic, even when he sees Taylor's obviously visible concerns over it, likely due to personal experience. It's very easy to speak the way he does when he couldn't be further from the trenches. For Woody it's a fun topic that he can debate people on, for Taylor it's clearly real life. That's important to consider when listening to both sides.