[BayAreaEscapee]

He said, "We're going to jawbone a lot about inflation and make some token steps, but not actually do what will solve the issue. Who do you think I am, Paul Volsker? We're in debt trap and more worried about springing the trap than about persistent and high inflation. Don't worry, young whippersnapper, in the future you'll own nothing and you'll be happy!"

[zie]

If inflation is due to supply, the Fed can't do anything about it. They can only affect the demand side of the equation, which they are doing.