Zero interest rates failed to cause inflation but rapid money supply growth finally sparked price surge

I hate to pop your narrative bubble…not really…but, interest rates are not the cause or fix of inflation. See below. The US had 7-years of a 0% federal funds rate. No inflation. Then, we had 2-years of 0% and got inflation. It’s not rates, it the M2 money supply. pic.twitter.com/0gzeMoHEdR

— Brian Wesbury (@wesbury) June 25, 2025

Money supply growth triggers inflation.