Transitory inflation

In looking back over the past three years the reasons for inflation become obvious. The Fed was buying government bonds and mortgages in a process called quantitative easing. This means putting cash into the economy. Between March of 2020 and the end of 2021 the Fed pumped $6.4 trillion dollars into the system. Meanwhile the American Rescue Plan was adding $1.9 trillion to the economy and add to that three rounds of stimulus checks for $5 trillion and then the increase in the child tax credit and people had pockets full of money. During this time the Fed kept interest rates below one percent making loans another source of easy money. With all that money to spend demand was rising rapidly while supply was being limited by supply problems and then people were surprised when prices started to rise. It was great news for the government as they handed out free money to people and they gladly accepted the praise from the voters but when inflation hit the government said it wasn't their fault. The first response was that inflation would be transitory but later that changed. At first the president bragged about the growing economy not realizing that it was all that money. Later he said that prices may rise.