It seems from the statement that the fed understands that the inflation is being caused by supply chains and the war in Russia. What I don't get though is how t

It seems from the statement that the fed understands that the inflation is being caused by supply chains and the war in Russia. What I don't get though is how that's considered monetary inflation as opposed to the money supply increasing. I thought that it was just price increases. So the fed mandate is just to ensure that the prices of goods and services barely ever changes even if it means tanking all the markets?