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Jerome Powell himself admitted they overdid stimulus, massively contributing to inflation.

• afterburner 3y ago
  Much better to overdo stimulus in a crisis and prevent a cratering economy (and human suffering) than the opposite. Stimulus is hard, politically, basically only possible at the peak of the crisis. Raising rates to undo it after you know the stimulus did its job is easy. Under-stimulating is what happened in 2008+ thanks to Republican obstruction and fear of electoral "anger", and we got years of extra suffering as a result.
• Analemma_ 3y ago
  But you also have to consider the counterfactual: we did way too little stimulus after the GFC in 2008, leading to the economy being depressed much longer than it needed to be. Obviously it would've been nice if we had done exactly the right amount of stimulus, and easy to armchair-quarterback in retrospect and say the "right amount" was obvious, but at the time it was not.