"The upshot is that companies don’t want to raise prices. Why? Because they don’t want to be at a disadvantage against competitors.

It’s that simple."

You may think it is simple, because you are wrong. The point of monopoly capitalism is that companies with significant market power (that doesn't require total monopoly control, just major control within an industry) are able to set prices. Your point is talking about competitive markets, in which a competitive producer cannot set prices. But companies with market control can, and can reap the profit without fear of losing to competitors.

And yes, the Fed enacted policies that increased demand - because that was demanded by politicians in DC to stimulate growth, that all-powerful god that Wall Street potentates worship and demand. That has always been the goal of the Fed, to balance growth and inflation. Now that inflation is the problem, the Fed is cutting back. But the Fed did not cause inflation, that is a crock.

Finally, absolutely monopolistic corporations use inflation as a cover to raise prices beyond what their costs require. It is one of many kinds of "disasters" that disaster capitalism thrives on. Read The Shock Doctrine, by Naomi Klein. If they have market power so that they would not lose too many customers, they can use inflation as a cover so that they won't look bad in their PR. And it is not just major corporations - a burrito shop in my town - the only one - raised their prices on some products by 40%, after years of small increases. All this contributes the inflationary spiral.

Sorry, bud, but Warren was right, and you are wrong.