Ambivalent about the inflation spike so far is they are willing to accept higher than normally tolerable inflation for a period of time - months or even a year or two - to revert a bit to the mean after so many decades of low inflation, and a decade + of struggling just to avoid a deflationary spiral. The fed targets around 2% or so annual inflation, for the reasons you state.

That wasn’t my point - inflation was not and is not caused or exacerbated by the wealth gap. IMO anyway. It is not the cause of our higher than generally acceptable inflation levels now. The risk is the longer these higher levels persist, the more they become self fulfilling prophecies going forward. And so we see the fed becoming a little less ambivalent, targeting an end to its bond purchases by June, which is not fast enough for some economists (including Larry Summers).

Senate dems know that inflationary worries are probably the greatest concern for the moderates, and so are trying to sell BBB as a step to address inflation. I think that is a very hard case to make. I think the case that inflationary concerns are overblown from this 1.7 trill package over 10 years is an easier and far more valid case.