Inflation is a monetary phenomenon

The idea that inflation is a monetary phenomenon fell out of favor in the 1980's. It made a comeback in the the pre-GFC period, but then was dismissed in the post_GFC period when inflation was tame during a period of high money growth. Money again became important after the monetary policy excesses of the pandemic. Now, supply shocks have impacted inflation, but over the long run, there is a link between money and inflation. It may not always be tradable, but we can say that strong money growth relative to GDP growth is linked to inflation. To solve long-run inflation, cut money growth.