Is Fed Stimulus the Cause of the Bubble?

The surge in liquidity, the cause of the jump of m two money supp going to almost 30 per centwas both because of what was done on the fiscal side and what was done by the Fed. So can we lay this ame? Lay the inflation, hence the monatary tihting, and hence the market collapse, at the door? Imi, maybe im some of the the blame, if you want to call it that, can be laid at the door. If the fed had moved off the zero bound earlier in would we be in much better shape right now? Or were the forces driving inflation outside of what the fed kenner cannot control, sufficient enough that might