The money supply has expanded as much since the monetary policy shifts of 2020 as it did between 2011 and those shifts, and inflation is a lagging indicator. Yo

The money supply has expanded as much since the monetary policy shifts of 2020 as it did between 2011 and those shifts, and inflation is a lagging indicator. You can't use "oh, we've expanded the money supply before and it hasn't caused inflation" to dismiss the idea that expanding the money supply at several times the speed is going to have a much more dramatic inflationary effect.