[mikeash]

How long does it take for new money to get into the hands of the average person? I'd think a couple of months. A 15% inflation delta then means an "invisible tax" of maybe 3%. Not very important. And that's ignoring the highly questionable nature of those stated assumptions.

[elmar]

I have seen studies where it could take up to 2 years for the new money to completely penetrate the economic system.

Unfortunately currently don't have the links, I will try to post it later.