by squaremild
It’s basic economic theory — Rapid expansion of the money supply leads to inflation. No economist (i.e. Janet Yellen) can claim inflation was an unforeseen consequence of printing trillions of dollars starting in March 2020. To compound this problem, the system which reflects the value of the dollar — the economy — was ground to a halt for months and months and months with complete disregard to future impacts.
https://fred.stlouisfed.org/series/M1SL
https://www.investopedia.com/insights/what-is-the-quantity-theory-of-money/
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