> With stimulus checks and low interest rates, there was too much money chasing too little goods, causing prices to rise and YoY inflation went up to 10%.

At least half the run-up in inflation was on the supply-side of things:

* https://www.frbsf.org/economic-research/publications/economi...

Or have people forgotten oil and food/wheat prices spiking (thanks Russia!)? (Clogged ports for goods didn't help earlier in the pandemic either.)