Source: EconLog
by Art Carden
“According to polling data from Data for Progress, likely voters left, right, and center blame corporate food manufacturers and retailers ‘raising prices to maximize profits’ for rising prices. The closest thing the poll has to any variation on ‘too much money chasing too few goods’ is ‘The Policies of President Joe Biden,’ which could mean just about anything President Biden has done. The Federal Reserve is conspicuously absent from the list of potential suspects. … Which is easier to do: believe that sinister forces are at work or explain all the terms in the equation M*V = P*Y, total spending — the money supply times the velocity of money, which is the frequency with which each dollar is used — is equal to the product of the price level and the amount of real output[?]” (09/08/24)
https://www.econlib.org/debauched-currency-leads-to-debauched-hot-dogs/