A few other points...

I agree with you that we need to raise interest rates substantially for now. To curb inflation...

We talked about energy...

But with respect to labor, after Congress rejected his mandatory minimum wage increase, he engineered a stealth increase in wages through his extended unemployment benefits. You can't push up labor rates without triggering inflation. Obviously, Biden knew what he was doing as the quote below shows...

"Biden's voice lowered to a whisper when asked about concerns of Americans not wanting to return to work and keep collecting unemployment instead.

His whispered response was "Pay them more. This is an employee's—an employee's bargaining chip now.""

I did support targeted relief for those individuals that were directly hurt by Covid (others like me saw our businesses boom under Covid. My wife and I property managers in southern California and across our inventory of rental properties only 3 out of 51 families were hurt by Covid, and all three of those families found jobs within 90 days of the lockdown. Those hurt were in the dining and hospitality business. Unemployment numbers do suggest unemployment soared to 13% during the lockdown, but were already down to 6.8% before Biden took office.

But unleashing so much money was bound to trigger inflation given how constrained supply chains were. Whereas as targeted relief while delaying spending where possible until the supply chain and new energy supplies could come on stream would have produced a smooth recovery.

Even worse, most of the "relief" did not go to families... his $1.9 trillion bill averaged $15,000 per family unit. Did every family get $15,000? Did every family need $15,000?

At some level, I think Biden tried to use Covid to introduce a range of progressive policies, that the economy was not prepared to handle nor were taxpayers prepared to fund. As a result, all that extra money turned into higher prices.