Fed Chair Jerome Powell is trying to explain away the inflation rollercoaster-but money supply is absent from his script
Briefly

Our research shows countries with gradual rises in M2 had moderate inflation, not requiring extreme measures. Inflation sources blamed on non-monetary factors like supply chain issues, lockdowns, and oil prices.
Central banks often avoid acknowledging money supply's role in inflation, shifting blame to external factors. Blaming money for inflation is unpopular among policymakers.
Read at Fortune
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