The following options were causes of increased inflation during the second year of the COVID-19 pandemic:
- Disruptions in the supply chain
- Fiscal stimulus checks sent to individuals by the government
The deep recession caused by the Fed's actions is not typically considered a direct cause of increased inflation; rather, it was related to the measures taken to address economic conditions. The end of the pandemic itself also was not a direct cause of inflation, though its aftermath influenced various economic factors.