That's a dramatic chart with a steep rise in 2009. However, that only tells part of the story. The monetary base doesn't affect asset prices and consumer price

That's a dramatic chart with a steep rise in 2009. However, that only tells part of the story. The monetary base doesn't affect asset prices and consumer prices if it just sits there doing nothing. Bank reserves with Federal Reserve Banks match your chart during the same time, showing that this money is just sitting with banks, not in the real economy [1]. Consequently, the velocity of money declined steeply at the same time [2]. [1] https://research.stlouisfed.org/fred2/series/WRESBAL https://research.stlouisfed.org/fred2/series/WRESBAL [2] https://research.stlouisfed.org/fred2/series/M2V https://research.stlouisfed.org/fred2/series/M2V