The nasty inflation seed has taken root. Now what? Inflation is fueled by too much money chasing too few goods. The Fed Reserve in the past could throttle inflation except now the feds 6 shooter is down to maybe 1 or 2 bullets left. That could mean uncontrolled inflation that is a real killer.
So, how to stop it? Stop spending for anything except the household 'fixed' expenses. Nothing else. IF everyone did this inflation would decrease and maybe even reverse in a matter of months. . Problem is,most people will not stop spending. Next problem will be supply issues that will scare people - if they need one they will buy 12. Remember the TP fiasco? That exacerbate the situation and inflation marches on. Your dollar is worth less and less. There is no limit to how high inflation can go - look at Argentina.
So, there you have it - these are the cards we are dealt. The Govt passing minimum $15 wage for people only worth a fraction of $15. started the chain reaction and made it worse by passing out free money to people. Buckle you seat belt because IF we don't change our consumption ways we are in for a very rough ride. To learn more read up on Economics 101.