- Money supply growth has soared in the last year, but that doesn't mean the trillions of dollars dumped onto consumers was used for consumption.
- Just like in short-term UBI experiments, the stimulus checks largely didn't alter people's spending habits but rather bolstered their savings and went to debt paydown.
- Why am I skeptical of consumer price inflation? Just look at the top three components of the CPI.
- Housing (the way the CPI calculates it), transportation, and food & beverages are not likely to shoot up in price anytime soon.
For further details see:
Don't Fear The Inflation Reaper