It really is so simple.
The standard definition of inflation is too much money chasing too few goods.
Too much money can be created by interest rates that are way to low, generating too easy credit, generating large levels of spending based on large levels of borrowing. Too much money can also be created by government borrowing trillions it does not have and flooding the economy with expenditures from that borrowing. It is quite obvious that the latter is the cause of the inflation - Biden’s trillion$ in borrowing and spending.
The Fed is having an uphill climb trying to tame inflation while everything Biden is doing is fueling inflation.
Even Biden’s open border is fueling inflation, with millions of illegals putting pressure on food, housing, education and medical care, with city, state and federal efforts subsidizing them.
My wife, son and I went out for dinner last night to celebrate her 60th birthday. It was at one of the more expensive restaurants in town. By 5:30 the place was full. On a Tuesday night. Which frankly surprised us. Most of the people were middle aged to older.
So, my point is people continue to spend money here in southern NH.
FYI, my son paid for dinner. Which I think it made him proud to do. He has a good job and is doing well for a 25 year old.