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Comment by klntsky | Hacker News Reader

80% of all USD have been printed since 2020.

https://fred.stlouisfed.org/series/M1SL

That's probably because it's not true. You can see the definition of M1 changed at the exact time that chart shows a spike.

https://www.federalreserve.gov/releases/h6/current/default.h...

What exactly was the change in definitions and is it possible to account for the change or is information missing?

Seems like this is probably it:

https://fredblog.stlouisfed.org/2021/05/savings-are-now-more...

According to Investopedia, "in May 2020, the definition of M1 changed to include savings accounts given the increased liquidity of such accounts."

If you look at M2, which already added these in, the increase looks much smaller.[1]

[0]https://www.investopedia.com/terms/m/m1.asp

[1]https://fred.stlouisfed.org/series/M2NS

Ok. I guess I'll ask my dumb question. Why is that bad or "the next big thing"?

There’s a lot of demand for those dollars. As long as the world continues to bring on 50-70m households to the middle class each year, we should be fine.

This is crazy big news and no one is talking about it.

Really? To me it seems to show up in every discussion about the general economy these days.

The FED printing money? All I hear is everyone blaming everything/everyone but the FED as far as inflation goes.

It's not that there's inflation -- it's the level of it. It's massive and will play out in very large terms in the coming years.

Yes, the Fed printing money. Memes from the younger, paragraphs from the older. More rarely mentioned by the credentialed, but so ubiquitously brought up by the commentariat that I just can't buy this as "few people are talking about."

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