By Mickey D. Levy
The Federal Reserve is aggressively easing monetary policy, but the story behind the recent surge in money stock is much more complex (and interesting) than simply attributing it to the expansive policies of the Federal Reserve. It will stimulate stronger economic growth, but using historic (and dated) rules of thumb to predict high inflation is overly simplistic and very likely incorrect.
Even unprecedented intervention can't entice individuals and businesses to take more risks.
The money supply in the U.S. has spiked at an unprecedented rate. M2 rose 3.8 percent in March,