The 40% relates essentially to cash-like assets, which is a tiny part of the total USD money supply. The total has not grown drastically. See https://en.m.wiki

The 40% relates essentially to cash-like assets, which is a tiny part of the total USD money supply. The total has not grown drastically. See https://en.m.wikipedia.org/wiki/Money_supply https://en.m.wikipedia.org/wiki/Money_supply