You’re leaving out the part where the fed announced it would buy an “unlimited amount of bonds” at the start of the pandemic: https://www.ft.com/content/b71f0c

You’re leaving out the part where the fed announced it would buy an “unlimited amount of bonds” at the start of the pandemic: https://www.ft.com/content/b71f0c32-6cfb-11ea-89df-41bea055720b https://www.ft.com/content/b71f0c32-6cfb-11ea-89df-41bea0557... The fed had a role in causing the rise in inflation as well: https://www.cfr.org/blog/how-fed-bond-binge-predictably-stoked-inflation https://www.cfr.org/blog/how-fed-bond-binge-predictably-stok...