Well, when they're spending that amount of money, the bank for the federal government, which is the Federal Reserve, had to buy an enormous amount of the debt. So The Federal Reserve's balance sheet went from $3.6 trillion to $9 trillion. And money supply M2 money supply increased enormously. You can almost always track inflation with the increase in money supply. So that's why inflation exploded. (05:24–05:30)
CLAIM
Asserts the increase in the Federal Reserve's balance sheet.
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