[monkeydreams]

> Money supply has been going way up, and we've seen massive asset inflation.

Money supply goes up, velocity goes waaay down. Net inflation impact.. nearly zero. This inflation appears to be a combination of the US economy seeking a post-COVID equilibrium and the impact of stimulus spending.

[aidenn0]

If the democrats accomplish pretty much any of their progressive reforms, that will likely have a positive effect on velocity.