[gibsonf1]

Adding trillions to the money supply, of course, has no impact whatsoever?

[whimsicalism]

People understand that inflation is a function of both money supply and velocity right?

Well I guess no, as almost every comment on this thread seems to have no idea.

https://fred.stlouisfed.org/series/M2V

[wbsss4412]

Money supply, velocity, and GDP growth*

Just wanted to add, if all else is held equal amount those factors, growth in gdp, without and subsequent changes in the money supply or velocity, would lead to deflation.

[dragonwriter]

> Money supply, velocity, and GDP growth

consumer price level should be proportional to Money supply × velocity ÷ (real GDP + value of net consumer imports)

[whimsicalism]

Yep!

Price Level = Money Supply * Velocity / Real GDP

If you improve real output without an increase in money supply or velocity, things'll get cheaper.

[martinko]

Economists would argue that the 'printed' money is actually reserves at the central bank, and thus has no impact on price levels. I myself am less certain about the overall dynamics.