Until the Fed cranks interest rates above the rate of inflation, it will continue.
Of course, if Congress would stop borrowing money (which is all printed out of thin air), half of the Fed’s job would be done for them. They won’t. They will point fingers at the Fed for “ruining” the economy while they continue the job themselves.
Volker and Reagan also cut taxes, which resulted in more goods produced, and consumer spending took money out of circulation. Biden intends to raise our taxes to take money out of circulation.