The post 2008 QE was 4.3T in the same order of magnitude of the QE of the past year. There was no runaway money supply driven inflation. If you look at work fro

The post 2008 QE was 4.3T in the same order of magnitude of the QE of the past year. There was no runaway money supply driven inflation. If you look at work from macro economist Claudia Stam, who as part of the Fed studied the effects of 2008 recession aid programs - her work concludes that we actually have more margin for monetary stimulus and we can alleviate a lot of economic disruption by undertaking that stimulus for valuable infrastructure investments. If one were to compare to 2008 to the pandemic, I'd actually hypothesize that the main inflation driver now is not from QE (though it is affecting the stock market somewhat like it did in 2008), but driven from disrupted lines of production from a mix of pandemic and climate change driven infrastructure disruption. And it's that capacity drop that is pushing most of the inflation we're seeing now.