What's Different Today From the High Inflationary Period?

I remember as a student in Boston in the early 80s and the days before the internet. I remember seeing people actually line up at the Fidelity office to see the monetary aggregates released on a weekly basis. The way the money travels through the economies change dramatically since Milton Friedman first said that inflation was always a monetary phenomenon. But for now and for really many years now, monetary aggregates don't play an important role in our formulation of policy. It's more about demand and supply and things like that.