I have explained it, but your bias clouds your judgment, sorry. Supply of effectively every good is higher than prepandemic. Demand is even higher. Retail sale

I have explained it, but your bias clouds your judgment, sorry. Supply of effectively every good is higher than prepandemic. Demand is even higher. Retail sales have exploded vastly above trend due to fiscal injections. This is NOT a supply side issue, this is consumers mass buying which leads to shortages. If it were a supply side issue, you'd see big hits to corporate earnings, instead they became massively inflated due to excess consumer spending. Personal income is rising much faster than sustainable for 2% inflation. Are you aware that money is nominal? People getting paid more means nothing if prices rise faster than they're getting paid. There's zero inherent value to a dollar. Inflation is a product of supply and demand, not just one or the other. When there's an imbalance, prices rise to a new equilibrium point. Go on, cheer for higher nominal wages as consumer sentiment sits at all time lows and real wages are deteriorating faster than any time in history