Inflation..............................
Inflation should have exploded by now, but it has not—been spotty in some parts of the economy and not others.
Some articles I have read explain that the current economy is a lot different than what the “experts” are used to....
One _big_ factor is the incredibly high interest rates on credit cards for average consumers compared to mortgage or auto interest rates.
That means consumers will take “free cash” from the feds and use it to pay down credit cards _first_.
This _slows_ the velocity of money because it is not used to buy more consumer products.
That is why giving cash to consumers is not increasing the velocity of money the way the “experts” thought it would...