What Really Causes Inflation?

Central banks were aiming for zero inflation, which is essentially very deflationary. So if the money is not going towards productive investment, then it's not going to cause consumer price inflation. By causing a recession, by increasing interest rates, you are devaluing labor. On the other hand, by keeping asset prices high, you are preserving the wealth of the wealthy. This is why we have seen inequality rise to such obscene levels.