The fuck it was. That inflation was already brewing in the wings; Covid just hypercharged it.
This falls on the Fed for their inane 14 YEARS of open purse monetary policy, despite the economy requiring no stimulus. They (Fed again) finally threw the brakes when it was impossible to avert disaster.
Meanwhile, Jerome Powell and Janet Yellen happily spent their public appearances gaslighting the country that inflation was “transitory,” while the average American faced 40-YEAR inflation, on the backs of ongoing stagnant wages and a Federal minimum wage that hasn’t increased since 2009.
It was absolutely not Covid; it was willfully bungled monetary policy from a hack Wall St lawyer, non-economist.
So you’re saying I should make friends with people who also intensely dislike people?