April 9: Powell responding to a question about unlimited money printing, bubbles and inflation:
Powell: “Inflation has been an interesting phenomenon. Back 12 years ago, when the financial crisis was getting going and the Fed was doing quantitative easing,

many people feared that the increases in the money supply, as a result of quantitative easing asset purchases, would result in high inflation. Not only did it not happen, the challenge has become that inflation has been below our target. So that is - globally

the challenge has been inflation below target. Honestly, it is not a first-order concern for us today that too high inflation might be coming our way in the near-term. Far from it. These are programs that we’re developing at a high rate of speed. We don’t have the

luxury of taking our time the way we usually do. We’re trying to get help quickly to the economy as it’s needed. I worry that in hindsight you will see that we could have done things differently. One thing I don’t worry about is inflation right now.”

LL here: Dude, you are not worried about inflation? Well you should be. Remember the phrase "it's always the punch that you don't see coming that knocks you out". I suppose he has to say that, but FFS. Amazing at the density. I suppose since they got away with it

in 2008 they think they can again. My view. No way. Reasons: 1. Scale bigger. 2. Bubble broader (everything, not just houses) 3. Helicopter will drive it. 4. Bond vigilantes are about to fall in love with gold and gold will call bullshit on fiat. 5. Then Sir Gresham wins.