This perspective is naive. We need to look back to the seventies, at minimum, to really grok what’s happening in American economies today. I’d say WW1 is a better starting point but getting people to read a few dozen books is hard enough, a few hundred nigh impossible. Fiscal policy is useless without a legislature that legislates. To be clear, the inability of Congress to legislate is akin to pouring powdered magnesium on the fires in America’s interconnected economies. From rampant monopolization, ignored externalities, irrational tax policies, regulatory capture, unpunished white collar criminals roaming free in polite society, war on drugs, systemic racism, to more benign things like the breakdown of separation between church and state. These deeply rooted and unaddressed issues affect inflation in insidious ways that are impossible for the fed to address. So if the fed can’t and Congress won’t, why are we still talking about inflation like anyone with power actually wants to solve it? Simple truth of the matter is everyone empowered is actually welcoming the inflation. We can bicker about why but honestly thinking that congress is interested in controlling it is laughable. We have a functional playbook for inflation but it’s too extreme for the current right of center administration and power centers in congress to even consider or mention.