Here is what James Galbraith (an economist at the University of Texas, whose name is always given with the middle initial of K, but I find that a bit pompous) says is causing inflation:

• high oil prices (“oil” being shorthand for gasoline, fuel oil, and natural gas) driven by pandemic recovery and cut-backs in shale oil/gas production. A short-term solution is to sell from the Strategic Petroleum Reserve to stabilize prices. He says shale production will pick up driven by market forces now that prices are high.
• commodity speculation. Solution is regulation.
• military spending. This is a good point – he says we are spending $700 billion per year on “weapons and defense”, and I suspect this number would be over a trillion per year if you consider all defense, intelligence, security and nuclear weapons spending as a whole, which is scatter across the government beyond the Department of Defense. Something that irritates me – why do we talk about the infrastructure investment and social spending bills Congress is considering as totals over a decade or more, which leads to a sticker shock effect, but defense spending on an annual basis, if we talk about it all? I AM GOING TO SPEND OVER ONE HUNDRED THOUSAND DOLLARS ON MY HOUSE OVER THE NEXT DECADE!!! But my monthly payment is something I can (just barely, not particularly comfortably) afford on my income, and that is how I think and plan my life and family finances. Democrats seem to think the big numbers have a kind of positive shock value showing that they are doing big, bold things. But Republicans just incoherently scream SPENDING!!! and INFLATION!!! and that communication strategy seems to be winning. (My 30-year fixed rate monthly mortgage payment is going to seem less spectacular, by the way, in a world where a bag of groceries costs $100 or more, which seems to be where we are headed. My wife and I are relying on a lot of prepared food and takeout these days, because I am working full time to maintain our private health insurance and other benefits, and we are raising small children in the richest country in the world without a childcare program. Also, our dishwasher is broken and due to the supposed labor shortage, the repair has been postponed several times even though the part is available. We are grateful that we are healthy and well-nourished and have a roof over our heads and realize many people are in much worse situations…)
• supply chain bottlenecks, including clogged ports. These will work themselves out, although it seems to be a painfully slow process.

He says raising interest rates alone would not be a good solution to any of these problems. He says it is important for wage increases to go to low-paid workers. That certainly seems fair and just, although I am not sure how that is a solution to the problems above.