Causality or correlation? Every central bank at times has to deal with inflation and deflation, increasing or reducing the money supply. Inflation today has a l

Causality or correlation? Every central bank at times has to deal with inflation and deflation, increasing or reducing the money supply. Inflation today has a lot of different factors than inflation in various times in the past - huge increases in energy costs (Russian invasion leads to so much more, gas shortages in europe which drives everything else up they make), fertilizer made in good part from petroleum related things gets more exp, food gets more exp, Ukraine doesn't export as much food so there's a shortage of that. Add on covid supply squeeze. You get huge inflationary pressure WITHOUT ANY MONEY SUPPLY CHANGES. I'm kind of tired of people wasting everyone's time arguing about whether the us causes inflation because we aren't on a gold supply anymore, or crypto is the savior or source of our problems, on increases in the money supply. We were stimulating the economy in the us (and in europe too I guess). imho, the US fed will fail to knock down inflation much because they can't control these external factors, energy prices increased, supply decreased (in part bc Euro stopped buying Russian petro products), food shortage. These are outside their control. I keep reading articles the last few days saying we are close to a deflationary spiral on prices, going completely the other way. Who knows who is right. But I am right that there are these external factors causing inflation.