It’s not quite as simple as money printing, but close.
The main drivers are:
1. credit creation with no reserve requirements (which we’ve been doing since 2020), every mortgage, every loan, … all of it inflates the money supply (effectively debasing your salary and savings)
2. quantitative easing where the Fed “purchases” troubled assets, such as mortgage-backed securities, gov bonds, etc.. this just keeps the rodeo going
3. government deficit spending, forcing the Fed to purchase more bonds (see above).. this is needed to provide cover for the central bank cartels that are “lending” money they never had. While we tend to think this is the primary driver it’s not, it just reflects the larger problem above (an enabler if you will)
“Who is printing” is an endless sea of participants (including everyone with a mortgage) making unholy deals with a central bank cartel, who are effectively looting as the culture disintegrates, and the government is only a secondary enabler of this civilization destroying grift.