> I wonder if inequality increases caused by printing trillions of dollars during COVID are anything to do with this inflation? Could it be that making the rich endless more wealthy and increasing asset prices is bad for society?
Making billionaires more wealthy doesn't affect inflation much because they are already consuming as much as they want. That money will just increase the price of stocks and bonds - whatever billionaires invest in.
Giving every average Joe a thousand more dollars will increase spending by nearly that amount per person and prices of goods will increase.
Giving money to people who need money is part of the solution, but the biggest part of the solution is making sure human productivity (GDP) is going to make things that make people's lives better.
Making billionaires more wealthy doesn't affect inflation much because they are already consuming as much as they want. That money will just increase the price of stocks and bonds - whatever billionaires invest in.
Giving every average Joe a thousand more dollars will increase spending by nearly that amount per person and prices of goods will increase.
Giving money to people who need money is part of the solution, but the biggest part of the solution is making sure human productivity (GDP) is going to make things that make people's lives better.