I've wondered about the utility of velocity now that the money supply can be increased at will. In the past when there was a limit I can understand why it was u

I've wondered about the utility of velocity now that the money supply can be increased at will. In the past when there was a limit I can understand why it was useful but now there are many dollars sitting in bank accounts that are not being used so I can see why it's declining and it seems that that won't change given the feds constant expansion of the money supply. There's also the fact that the dollar has become a worlds currency whose velocity is hard to measure. We need an alternative way to measure the dollars utility to the economy.