Not OP, but I would say there's two major causes for inflation at the moment.
One is the extended period of 0% fed rate coupled with ludicrous spending. Most of that happened under the previous administration and was largely bipartisan. This administration still has insanely low fed funds rate and is still spending like crazy. Please don't bother explaining how the federal reserve works, the buck stops at whoever appoints them and/or gives them power.
The second is continually escalating sanctions against one of the world's biggest energy and food exporters. This also started under the previous administration and was expanded during this administration. Again, bipartisan. The administration(s) paint pictures of oligarchs losing yachts when they talk about sanctions. They conspicuously neglect to mention food rationing in Spain, food riots in Peru and Sri Lanka, and the looming famine crisis when the crops that should be getting planted now don't get planted because there's no fertilizer. So in 3-8 months when those crops should be getting harvested, it's going to be bad and food inflation is going to be much worse and many, many poor people are going to starve.
One is the extended period of 0% fed rate coupled with ludicrous spending. Most of that happened under the previous administration and was largely bipartisan. This administration still has insanely low fed funds rate and is still spending like crazy. Please don't bother explaining how the federal reserve works, the buck stops at whoever appoints them and/or gives them power.
The second is continually escalating sanctions against one of the world's biggest energy and food exporters. This also started under the previous administration and was expanded during this administration. Again, bipartisan. The administration(s) paint pictures of oligarchs losing yachts when they talk about sanctions. They conspicuously neglect to mention food rationing in Spain, food riots in Peru and Sri Lanka, and the looming famine crisis when the crops that should be getting planted now don't get planted because there's no fertilizer. So in 3-8 months when those crops should be getting harvested, it's going to be bad and food inflation is going to be much worse and many, many poor people are going to starve.