> The recent bout of inflation is less about monetary policy than about the supply side The fiscal side[0] is probably more to blame than the supply-chain rest

> The recent bout of inflation is less about monetary policy than about the supply side The fiscal side[0] is probably more to blame than the supply-chain restrictions. Aggregate demand was kept turbocharged since Covid through deficit spending. And given that the CPI is still 19.1% higher as of last reading compared to pre-pandemic times, whether or not the rate of change is falling, people are still rightly feeling squeezed. [0]: https://fred.stlouisfed.org/series/FYFSD https://fred.stlouisfed.org/series/FYFSD