In 2008 and really also in 2020, the bulk of the created dollars wasn't given to people where it might create consumer price inflation, by a vast degree it was

In 2008 and really also in 2020, the bulk of the created dollars wasn't given to people where it might create consumer price inflation, by a vast degree it was allocated at the top. There it is creating asset price inflation local to the place of major injection. It's a poor stimulus effect if one is trying to use it to move the economy.