When it comes to inflation, the real culprits often get overlooked. Legislative inaction plays a major role—Congress has done little to address spending, and meaningful deregulation efforts remain scarce. Meanwhile, the Fed's monetary policy stance compounds the problem; even if other pressures ease, restrictive policy frameworks can prevent natural price corrections. The inflation narrative isn't as simple as blaming one actor. It's a policy coordination failure—fiscal decisions, regulatory frameworks, and central bank actions all feed into persistent price pressures. Understanding these mechanisms matters for anyone tracking how macroeconomic conditions shape asset markets.