That’s true.
Only the green arrow parts are increases in the numerator.
Hmm, that’s almost the entirety of the past 15 years, including right now.
Good times: Fed says “We must print more money.”
Bad times: Fed says “We are countercyclical we must print more money.”
Good times: Fed says “Who cares about countercyclical? . . . here’s a different excuse to print more money.”
The Fed has an ideological diversity problem.
The Fed does not print M2 dollars.
If the Fed was printing too much monetary base we would get inflation. During the pandemic, as part of rescuing millions of American companies and tens of millions of families, they added to the monetary base substantially. The short-term results was that rescue. The medium term results was faster economic growth and higher inflation.
I’ll take the tradeoff and hope we can be more precise next time around.
So you can’t huh?
Thought so. Only looking to snivel and whine.
Waaaaaaa! Trump hasn’t brought down prices in a month that biden took 4 years to raise.
Can you? I asked you first.
Why straight to trolling?
The Fed prints M2 dollars by dictating the Fed Funds rate. (You know this.)
Every night, every single night, banks have a choice
The Fed, in their deliberate, unhidden and clearly-stated policy increases this “liquidity” by paying a lower Fed Funds rate. You know these things.
Oh and I sincerely hope you are not taking issue with the metaphor “printing money.”
That metaphor “printing money” is a valid one.
It has been used by past and present Fed governors and by past Fed chairs and the present Fed chair.
I beg to differ…
Oops. 
Can’t even keep that straight.
Eh, guess that is what happens when your first priority of the day is “hate on Trump “.
Seriously? Scroll up, here’s the question again.
One hour ago:
25 minutes later:
no, that’s not right. The Fed doesn’t dictate the Fed funds rate. It dictated the interest paid on reserve balances. How active commercial banks pursue the use of that is their own discretion.
I have no problem with the use of “printing money”.
Obama was still blaming Bush well into his second term.
How much did Trump spend first time around? Why doesn’t that warrant some responsibility?
Breaking news, politicians blame their predecessors.
Date: March 3, 2020 
We could go back to Obama or maybe Carter or…
How far back should we go?
Very weird response after posting this.
Maybe you should have included that stupid gif with your original post?
Within the first year or two, it isn’t uncommon to blame one’s predecessor. By the second term, it looks kind of silly.
Just like Argentina, it takes some time for policy to be put in place and the economy to recover from too much govt spending. Firing govt workers will slow down inflation.
Trump spent 4T before Covid. 4T in his 8 months of Covid. Total of 8t.
Biden spent 4T.
If the inflation is a result of spending and it started early in bidens term the 2x spending of the last guy should be considered.
Do you have an example of Obama blaming Bush in Obama’s second term? I don’t doubt that it might have happened, but I also don’t doubt that you might have pulled it right out of your butt, like you do so often. I posted an example of Trump blaming Obama in year four of Trump’s first term.
