Actually, we changed the way we calculate the CPI after the double-digit inflation of the 70s to make it appear to be lower than it is, in order to avoid having to pay more COLA increases on Social Security.

"Asset Inflation" is where the QE money went.  It drove up the prices of bonds, stocks, and housing much faster than daily living expenses.  And if the Fed wants to destroy the Republicans, it can do what it did in the late 1920's when it increased the money supply by 62% when the economy of the Roaring Twenties was doing fine under 3 straight Conservative Republicans (Harding-Coolidge-Hoover) and it looked like Democrats would never be elected again.  Then the Fed tightened credit and hiked interest rates and caused the Crash of '29 and blamed it on capitalism.  It gave new life to the Democrats.

They're set up to do it again.  Yes, the Democrats are willing to put the country into a Depression to regain power.  (The Federal Reserve is a Progressive Institution.  No Republicans)