Planet Money covers it pretty well, if you can ignore the fluff: https://www.npr.org/transcripts/886036317 https://www.npr.org/transcripts/886036317 tl;dr: peo

Planet Money covers it pretty well, if you can ignore the fluff: https://www.npr.org/transcripts/886036317 https://www.npr.org/transcripts/886036317 tl;dr: people not buying things = deflation, but giving everyone money = inflation. How this balances out is uncertain.