I don't think that the 'reason' for the inflation really matters. Nor, does it matter how long the originating factor will be around, because the inflation is here and now.
The fact is, demand is outstripping supply, and keeping the cost of borrowing low, so that people can bid up the prices of scarce items, is only going to make the problem worse.
I think the main beneficiary in the current environment, would have to be the government, as all they care about is property prices and 'projects' to keep unemployment low.
However, putting people into 'fake jobs', to give them an income that they probably would never have had anyway, is only going to exacerbate the inflation problem.
Put it this way, if I had a choice, there is no way that I would be lending out my money at ~0%, when the inflation rate was 7.5%. It does not make rational sense.
