Exactly this; the Fed has been printing like crazy, but the new money has relatively low velocity. Velocity is required for inflation, not just the money itself.
Look at stock market prices of the past ten years; its the largest bull market in US history. The US Dollar isn't getting inflated by the printing; the stock market is.
Look at stock market prices of the past ten years; its the largest bull market in US history. The US Dollar isn't getting inflated by the printing; the stock market is.