World Bank president Malpass is on the newswires speaking to the global economy:

The interesting comment is the one asking for central banks to shift focus to boosting production instead of reducing consumption. This argues for NOT raising rates to slow the consumption, but trying to increase supply. The dynamics of supplyare not always easy to reach especially with tight labor markets, and the lag time between creating production capacity.

The chip industry is on a fast course of trying to increase supply, but that will take a few years. Meanwhile, car companies still complain about chip shortages and supply constraints as a result. The issues are not easily or quickly solvable.