> If people (companies) just use that money to buy financial products, pay off other debt, and so on, and it just kinda circulates in the banks, but most of it

> If people (companies) just use that money to buy financial products, pay off other debt, and so on, and it just kinda circulates in the banks, but most of it doesn't end up in consumer's hands - then there is no reason that the prices for consumer goods should go up, right? Even if there was no direct stimulus, which there was, companies don't just take stimulus, put it in their bank account and forget about it. But sure, if you have some evidence to suggest that this money never really entered circulation I think it would help your case. The reality is though, money supply increases by 400% since March 2020 and historic inflation followed. There may be other reasons, but I'm not sure what you would expect to see other than inflation. > On the contrary I sometimes suspect it is a bogeyman used to justify not raising wages. Wages have increased have they not? This is another signature achievement of the much maligned Biden administration, that the media is trying to hide. Wages are at historically high levels.