[dragonwriter]

> "Inflation is always and everywhere a monetary phenomenon." - Milton Friedman

This is true in the trivial sense that any time there is inflation, there is an infinite array of alternate monetary policy approaches that could have been pursued under which there would have been (all of) more, less, no, or negative inflation.

But other than that, it is not usefully true, because change in monetary policy is very often not the proximate cause of (increases or other change in) inflation. For instance, in the recent bout of domestic inflation, the proximate cause of inflation (somewhat reductively, as there were more contributors) was the rebound in employment, spending opportunities, and consumer confidence from the general relaxation of COVID control policies.