Summary:
Government fiscal and regulatory policy can cause specific products like food and energy to rise, but those rising prices would result in decrease in demand for other things. Only new money created by the Federal Reserve -whether to monetize deficits, “stimulate the economy,” or bail out zombie corporations – can cause all prices to rise simultaneously.
Additional Reading:
https://www.nbcnews.com/think/opinion/inflation-bill-sinema-manchin-senate-horribly-misnamed-rcna41712 (Manchin's disingenuous claim about the new spending bill)
https://tommullen.net/featured/true-federalism-would-have-prevented-covid-lockdowns-americans-cannot-afford-russia-sanctions-on-top-of-them/ (True federalism would have prevented Covid lockdowns; Americans cannot afford Russia sanctions on top of them)
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