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No, because they did basically the same thing ~15 years ago without increasing inflation.

Year over year inflation is higher than it’s been in 40 years, and they weren’t printing money then either.

15 years ago was a different animal because the money largely stayed in the banking sector, as excess reserves. This time, a substantial portion of it was deposited directly into consumer's accounts (stimulus checks) - and that money makes it's way into the real economy, pushing prices up.

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