system
Given the following post, respond as if you're commenting on Reddit:
human
what is president biden’s role in causing and mitigating inflation ?

So I have heard that at least 20% of the existing money supply was printed  from 2020 to now, which leads me to ask, did President Biden drive inflation by signing coronavirus relief/stimulus packages into law? to what extent is the Federal Reserve to blame for inflation (due to the maintenance of low rates to artificially keep the economy going).
gpt
Inflation in the short run changes according to the total amount of demand in the economy (aggregate demand) vs the economy's productive capacity (aggregate supply). Inflation will tend to accelerate if the economy is overheating (aggregate demand exceeds aggregate supply), and will tend to decelerate if the economy is in a recession (aggregate demand is less than aggregate supply).

There have been two factors driving inflation. i) Aggregate Supply has been reduced by the various COVID related production and supply chain issues - not President Biden's fault. ii) Aggregate Demand has increased in the last year, partly by the reopening of the economy and partly by the various coronavirus relief and stimulus packages. If Biden had not supported or had vetoed the various coronavirus relief and stimulus packages last year, inflation would be lower this year. On the other hand, people would have suffered more, unemployment would be higher, and the economy would not be booming today. 

The Federal Reserve has contributed to the inflationary environment by being dovish and signaling that interest rate will not rise for some time. On the other hand, inflation had been below target for some years and they were strongly motivated to raise it. They may have been overly dovish in retrospect, but central banking is not an easy task, since we can only know the past and not the future. It can be compared with trying to drive a car while only looking in the rearview mirror.