Many are confusing supply chain scarcity price hikes with monetary inflation price hikes.
Plenty of monetary inflation:
https://fred.stlouisfed.org/series/M2SL
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
An argument can be made that monetary stimulus leads to supply chain price hikes as “too much $$ chases too few goods” (COVID prod. issues + “stimmy checks”/child tax credit welfare checks). Not to mention the equity bubble. Interesting to see how they try and “soak up” the excess $7-$12 Trillion.