Transitory Inflation to those of us who keep an eye on the market and the economy in general without allowing political influences to cloud our judgment (which automatically rules out those on the left) was never really a consideration. It only made sense that if you create a bunch of liquidity out of thin air in order to prop up businesses that are too big to fail (and while that's an unfortunate part of our economic system, it is a reality) that eventually those extra dollars would water down the existing dollars and make them less valuable; ergo, inflation. Add to that the quantitative easing which, in an effort to smooth the edges in various ways, just increased to the money pool, and eventually it's going to come back to bite you. Here we are.
Biden is making it worse by not opening up the economy and by scaring everyone with C19 misinformation. The way out would be to open things up, the market will overheat, you have to raise interest rates to kill off the money supply, but after some pain things go back to normal. It's nothing different than what Reagan and Paul Volcker did in the early 80's, but Biden is too scared of the political implications of high interest rates, so he'll sit on his hands. Knowing that, one can invest properly.
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