Comment by jjeaff

No, that's a facile understanding of how the economy and fiscal policy works. A large portion of inflation is still likely to be due to complex supply issues rather than simply everyone getting some extra cash. There is also the fact that spending on services has shifted to goods and hasn't fully shifted back. It is likely once supply chains finally catch up and spending shifts back to services and travel that much of the upward price pressure will be relieved.

And of course, those are just a few factors, there are countless more factors that make the whole situation far more complicated than anyone could possibly account for.