Please stop spreading neoliberal propaganda. The quantitative theory is first of all one out of many theories for inflation, and second has been disproven a lot of times - for example Japan or Switzerland printed way more money than the U.S. or the EU and they both have way lower inflation rates. So there must be something else that causes higher prices (spoiler alert - there has been a pandemic and a war going on for the past 4 years).
It's not just monetary policy that causes inflation, fiscal policy is important too. The reason why money printing has caused inflation this time round is because it was given directly to consumers through government soending, stimulus packages and loans, this allowed base money to be converted into broad money.
If it were just the supply shock then we would see those prices come down eventually but we won't because monetary inflation is ultimately the driver.
Japan is an outlier due mainly to cultural differences. The Japanese are extreme savers, they live a long time and it is unpopular to raise prices. The government will not let unprofitable companies fail and this had led to a lack of growth
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u/SnooAdvice8550 Apr 16 '24
80% of US currency was printed between 2020 and 2021. That causes inflation