Greetings, please provide a thorough answer. I will upvote.

Propelled by surging costs for gas, food and housing, U.S. consumer inflation jumped 7.9 percent over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. The 7.9 percent increase, reported on March 10, 2022 by the Labor Department, reflected the 12 months ending in February, 2022, and didn't include most of the oil and gas price increases that followed Russia's invasion of Ukraine on February 24, 2022.

1.what caused the spike in the inflation rate? 2.what advice would you give to President Joe Biden (fiscal policy) concerning an appropriate economic policy for reducing the inflation rate? 3.what advice would you give to the chairman of the Federal Reserve (monetary policy) concerning an appropriate economic policy for reducing the inflation rate? Thank you very much