[jyounker]

What's the point? Other countries have widely diverging monetary policies from the US, but they're undergoing the same inflation spikes in the same areas of the economy. If the money supply was the cause then we'd expect to see these diverge, and they're not.

On the other hand we've had months of prices yo-yoing across the economy, both rising and falling. If it was about the money supply then we would not see price decreases following many increases. (e.g. lumber costs a few months ago.)

We also having diverging demand for goods and services.* If it was just about the money supply, and not a demand imbalance then we'd see increases in both demand and cost for services, and those matching increases don't seem to be there.

*See page point 9, page 12/16 of https://www.brookings.edu/wp-content/uploads/2021/09/COVID-F...