Well if not really in their power to stop it, then hard to fully put all on them. They dont have as much power as people think and they are truly clueless about how things work.
The skyrocketing of interest rates was foolish though.
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Fed economists have the same kind of education, & they follow the same paradigm: Keynesianism. He was so focused on numbers as tools of control that he forgot that all people can do is observe & learn. He wanted to control what couldn't be.
He is running the Phillip's curve which was debunked in the 1970s. That was the main problem.
The #fed didnt cause the inflation. Supply chain issues did. Hence the Fed wasnt going to fix it...just break shit.
Supply chain issues existed in 2020, but there weren't as exacerbated or as protracted as they've been since the middle of 2021.
Supply chain issues aggravated inflation, they couldn't cause inflation. Excess $$ came from The Fed.