> Many economists, both mainstream and M.M.T. ones, did not think that the March 2021 package would be inflationary. But homebound consumers, flush with cash, s

> Many economists, both mainstream and M.M.T. ones, did not think that the March 2021 package would be inflationary. But homebound consumers, flush with cash, spent their money far more heavily on goods than they typically do, and it took them longer to shift back to services than just about anyone expected. That roiled supply chains, pushing up prices for cars and furniture and precipitating the heady inflation that now has America in its grip. So they spent far more on goods than anyone expected? Well, maybe services were hindered a bit buy some pandemic.