Inflation Is Always a Monetary Phenomenon

Inflation is different than just price increases, that's right. Inflation is always a monetary phenomenon in the sense that it is caused by a higher grade of a higher growth rate in money relative o output. And i like to use a hurricane as an example. You're going to get higher prices, but you're going t higher prices because productions shut down and so people are going to start bitting up what is left. That's not the fed's fault.