SNL skit from the dot-com era: https://twitter.com/WallStreetSilv/status/152279877872567500...
Does anyone have a solid understanding of how QE affects the economy? From what I've read, QE basically stays locked in the financial system as interbank cash. I think this can affect short term interest rates, and therefore affect lending(and money creation by the big banks), but otherwise that money doesn't really drive inflation, at least not directly.
Based on that assumption, the real driver of inflation is the $5.4T in stimulus combined with supply-side shortages.
It's looking to me like inflation is here to stay. On-shoring, demographics(aging boomers), the end of cheap energy and many materials, and other factors seem to be putting the US on a different course than we've been on for ~100 years.