Inflation is arguably the number one phenomenon influencing the economy today. It is driving markets and policy. But what (or who) caused it?

People point at many culprits from greedy corporations to "Putin's price hikes." But in this episode of the Money Metals' Midweek Memo, host Mike Maharrey explains why the blame is being misplaced. He identifies the real culprit and explains the root cause of the confusion.

Listen to this Money Metals' Weekly Market Wrap Episode: