> That increase was due to the covid stimulus checks stimulus checks were like few 100B, very different amount, total stimulus program was 2.2T: https://en.wik

> That increase was due to the covid stimulus checks stimulus checks were like few 100B, very different amount, total stimulus program was 2.2T: https://en.wikipedia.org/wiki/CARES_Act https://en.wikipedia.org/wiki/CARES_Act , while M1 supply increased from 4T to 20T: https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL I think institutions took advantage of low interest rates, borrowed lots of money, and now will borrow/invest with much higher return for next many years. > That isn't the new rate of money supply growth I don't think there was so large scaled increase in the past ever.