Beware Of Narrow Perspectives And Unchecked Assumptions
One should expect something of a lag after a big pile of money is borrowed into existence (spring of 2020) before it affects prices. 12-18 months strikes me as about right.
Of course the spending spree by the FedGov is by no means the only thing that has contributed to the inflationary pressures we're seeing now. There are still plenty of supply-chain issues, and in a relatively free market, when things are in short supply, goods go to the highest bidder. My own business has paid 5-10 times the normal price for certain semiconductors from the secondary market on a couple of occasions. We didn't like it very much, but it beat the alternative, which would have been to tell our own customers that we have no finished product available for them. I've not raised my prices, but I think I'll likely have no choice early next year.