I've heard numerous times that the current inflation problem is caused by supply-side issues including supply chain disruption, lower productivity from fewer people working, impacts from trade restrictions, and higher energy prices.
Yet, many folks are blaming government spending which, if I understand correctly, would be a demand-based inflation.
Isn't it well established that demand-caused inflation (larger amounts of currency in the economy) is very different from supply-caused inflation (lower supplies) or are the two really considered the same since it is still too much demand pursuing too few goods?
Not being an expert, I can see the arguments for either case but am very interested if there is a consensus from economists on this question. Intuitively, it seems to be that there is a difference. Raising interest rates would seem to be a classic solution to demand-caused inflation. Raising interest rates would seem to me to make inflation worse for supply-caused inflation since this will ultimately raise production costs of suppliers who need short term loans to cover costs.