Not just yet. We can worry about hyperinflation when the public starts spending lots of money to get into real assets (or when the velocity of money rises.) At that point, short-term interest rates on Treasury bills will rise as they did in the 60s and 70s. That will balloon the Federal deficit. The Fed does not want those outcomes. If it’s rational, it intends to rein back in the high-powered money it is now creating. That is because they sterilized all other money creation for the past few years. But I doubt that they will do this fully or … Continue reading Hyperinflation?