Also, the money is not printed in a vacuum. We are in the midst of a terrible economic crisis. If the downturn becomes much worse we will need to contend with d

Also, the money is not printed in a vacuum. We are in the midst of a terrible economic crisis. If the downturn becomes much worse we will need to contend with deflation rather than inflation above and beyond the 2% target. These are basic principles of an elastic money supply.