The other "half" to the inflation calculation aside from money supply is money velocity. If people and institutions aren't turning over the dollars, there obvi

The other "half" to the inflation calculation aside from money supply is money velocity. If people and institutions aren't turning over the dollars, there obviously won't be inflation. As expected given the low inflation we've seen, V has rapidly decreased as M increased. https://fred.stlouisfed.org/graph/?g=GOR4 https://fred.stlouisfed.org/graph/?g=GOR4 (Both indexed to 100 as of the beginning of the 2007 recession)