Inflation did not remain low, it just went into the capital markets and luxury goods first because all the new money (~$3T so far) was effectively handed to big

Inflation did not remain low, it just went into the capital markets and luxury goods first because all the new money (~$3T so far) was effectively handed to big finance to buy their junk bonds above market prices. The wealthy can only consume so much in basic consumer goods (steaks, coffee, paper towels, soap, etc) so we wouldn't expect consumer prices to increase immediately, but we can expect them to increase inevitably. Had the newly printed money been sent to each citizen instead, consumer prices would have risen almost immediately.