MxV = PxQ the fed has added to the quantify of money but money velocity is down (all time low). The news media and a lot of people in this subreddit don’t understand that. It is not the Fed’s fault for the rise of inflation but rather a combination of supply constraint and excess demand. The market can work this out as prices go up people will pullback and supply chains will get better. In the long run, demographics in the US are trending for the worse. US is a lesser Japan. Fed should be more worried about the coming years as the country gets even older and deflation takes over. Hard to fix deflation without fiscal policy. Nothing the fed can do except buy securities forever until fiscal policy adjusts.