It does not matter how we got here. Who's fault it was, or wasn't. It does not matter if the inflation is driven by supply or demand. The Fed has a job to do,

It does not matter how we got here. Who's fault it was, or wasn't. It does not matter if the inflation is driven by supply or demand. The Fed has a job to do, by law. It has the dual mandate of keeping inflation low, and also unemployment law. Now inflation is higher than it was in 3 decades, and unemployment is record low. They are good by one measure (unemployment), but incredibly bad by another one. Their job is to take inflation down. At some point the two mandates will pull in opposite directions, but right now the inflation is high, and unemployment low. Sure, fighting inflation will increase a bit the unemployment, but few things come for free in life.