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You’re leaving out the part where the fed announced it would buy an “unlimited amount of bonds” at the start of the pandemic:

https://www.ft.com/content/b71f0c32-6cfb-11ea-89df-41bea0557...

The fed had a role in causing the rise in inflation as well:

https://www.cfr.org/blog/how-fed-bond-binge-predictably-stok...



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