I know it’s not specifically him but this happened under his watch so it is going to be attached to him. Increasing government spending directly affects the money supply.
How does it work, though?
Government spending (fiscal policy) can cause inflation but it would have to be on a massive scale. Besides, they could always raise taxes in some areas or cut spending in some areas to suck the money right back out. Usually, it’s the monetary side causing inflation. And it takes them longer to reverse course. The Fed has held rates near zero since 2008. We needed it coming out of the crash but now we’ve grown so reliant on it no Fed Chair wants to be the one to raise it back to 5%. I would say what we’re seeing now is a combination of the Fed holding rates low, multiple stimulus plans from Congress, and the economy shutting down with less products being produced or still backed up in the supply chain thus businesses are paying more to get what products are available and passing on those costs to us. The Fed can easily raise rates and cool everything back down but that would kill Biden’s economy short term. All these nikkas trying to play real estate mogul would have the

face and the markets would nose dive but it’s necessary.
Federal Funds Rate - 62 Year Historical Chart