Why Printing Money May Not Create Inflation

In a recent post, Brad discussed inflation and why he does not see an imminent risk of runaway inflation. Looking at the topic from the demand side of the equilibrium, he argued that demand collapses during a crisis and so does inflation. But, as we all know, there are two sides to any equation. Let’s now assess the supply side of this analysis. Could inflation come from there? When the pandemic hit in early 2020 and the entire economy hunkered down, demand collapsed. We were not driving to work, going to restaurants, or taking vacations and business trips. Suddenly, there was gasoline at the gas stations with no … (full story)

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