Just like democrats wanted.
Inflation creates more poor, and more dependents on government handouts. Those dependents are expected to vote democrat.
BTW, it’s not just about government spending, or the price of oil, it’s also about how democrats wanted higher wages to higher than a minimum of $15 per hour. Those higher wages cause all prices of goods and services to go higher, which then causes people to buy less in order to stay above water.
It’s all about the restriction of “free money”; the so-called stimulus cash printed by fiat.
This money has dried up and there are no give-aways foreseen in the near future.
Fed Interest Rate manipulation is only half the story.
Free Money is the other half.
Excellent point on the wage front. Many folks seem to be ignoring that component.