M2 is the more commonly referenced money supply figure. Have you looked at the M2 money supply lately? https://fred.stlouisfed.org/series/M2SL https://fred.stl

M2 is the more commonly referenced money supply figure. Have you looked at the M2 money supply lately? https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL Very obviously massive amount of money printing. Order of magnitude more than was ever done during the GFC. Roughly 30% of the money supply printed in the span of 18 months. And they keep going, every day printing billions. This was meant to be an emergency procedure to save the economy, and it made sense at the very initial stages. Now it just acts as a hyper accelerant towards wealth inequality. Yet we have many cheering it on, talking about nominal wage gains, as people become poorer in real terms. Or because their stock portfolio/house is appreciating. Unfortunately the Fed has fallen to both populism and political pressure. It's been obvious for months that the best risk adjusted policy was to begin tightening long ago. I say risk adjusted, because if they're wrong about transitory inflation, they will have to hike suddenly and induce a recession. So we risk a recession and we gained what? The economy is overheating right now, as is very obvious by retail sales being elevated 20% above baseline (resulting in shortages) and the widest gap between job openings and job seekers in history. The Fed is meant to smooth peaks and troughs in the business cycle, not pour gasoline on them.