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It's excessive QE since the pandemic started... The number of US dollars in existence is up around 40% since March 2020... Source: https://fred.stlouisfed.org/

It's excessive QE since the pandemic started... The number of US dollars in existence is up around 40% since March 2020... Source: https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL

throwaway0a5e 5y ago
And on top of that tons of money was moved into high velocity parts of the economy (i.e. the pockets of everyone who's rent/mortgage/student payments were paused).