I think the author didn't elaborate further because while this is non-intuitive and tends to rail up the internet armchair economists, it actually is a well res

I think the author didn't elaborate further because while this is non-intuitive and tends to rail up the internet armchair economists, it actually is a well researched phenomenon. One pointer would be the term "liquidity trap", e.g. this here as a starter: https://www.investopedia.com/terms/l/liquiditytrap.asp https://www.investopedia.com/terms/l/liquiditytrap.asp Japan in particular had this problem for decades. And I have to point out "printing money does not cause inflation" is exactly what happened in the US and Europe after 2007/8. There was massive QE but no increase in inflation (inflation was actually reduced).