After the biggest money supply growth in recent history the Fed somehow forgot basic economic concepts and its mandate for a full year. This is simply unbelievable. QE printing was still going on - in massive amounts - while inflation is showing up and the Fed is speaking nonsense about transitory inflation.
This game is rigged. The Fed is malicious, unpredictable and intentionally lying. It doesn't feel like the Fed is doing the best decision, it feels like the Fed is making intentionally unpredictable and even irrational decisions so that insiders, most likely big banks, could get to unravel their investment positions at the expense of the whole economy.
And yet, despite the 600% increase in supply of dollars, the dollar is stronger than ever.
Whether the money supply is responsible for the inflation or not, this is not basic supply and demand. It’s the exact opposite of basic supply and demand.
But in Europe inflation is also being driven by high energy prices due to the war in Ukraine.