I have to preface this by saying that Congress did delegate this responsibility primarily to the Federal Reserve, so they have to let them handle it.

One big piece of that is Congress has to stop passing stimulus bills. Unless they want more inflationary pressure, they have to stop doing it — there’s no way around it. So maybe this time they’ll stop.

Beyond that, I think it’s less of a “what are we going to do fix inflation” and more of a “what are we going to do to let what the Fed’s doing work better,” and that really does, for the most part, entail doing whatever they can to make it easier for people to produce and sell more goods and services. It’s more long term, and there are a million things they can do there.

Trade is one of the biggest, most obvious places to start, and the energy sector. Honestly, I understand — or I don’t understand it, actually — the climate change stuff. If you want to actively do a whole bunch of things that make it harder to access and use the cheapest, most efficient source of fuel we have, you shouldn’t be surprised when it becomes more expensive. If you want to do something about that, you have to produce more of it, not less of it.

Stop subsidizing things, because that’s more government spending that puts price pressures in places that you don’t want it. You can do things like getting rid of the renewable fuels standard — even the Government Accountability Office says the renewable fuels standard pushes fuel prices higher and doesn’t have much, if any, benefit.

The tariffs list goes on forever; the place to start is getting rid of tariffs on necessities like food and clothing, steel, construction goods. There are all kinds of little things even at the state and local level, like occupational licensing [that require workers to hold licenses in certain jobs], that hurt poor people more than they hurt wealthier people.

Based on where we are now, inflation is probably a little bit more demand than supply, but I would definitely say that there was a major set of supply problems that were caused by government shutdowns and that sort of thing, and I don’t know that all of that is completely cleared. If you want to really get into the weeds, that is a problem for the Fed, because they can’t really do much about that.