You're looking in the wrong place. QE doesn't go to families, so it doesn't increase the cost of milk, apples, or eggs. It went to the wealthiest banks and corporations, and wouldya look at that -- asset prices are inflated, "startups" have absurd valuations, and the wealth gap is larger than ever before.
The inflation is there, clear as day. You're just not looking in the right place and you think you're so smart because of it.
Your claim that Fed policy somehow doesn't have an impact on aggregate demand because it goes "to the wealthiest banks and corporations" is laughable for anyone with an elementary understanding of economics.
We're not seeing inflation because there would have been a huge AD collapse and deflation in the absence of Fed action.
THIS, so much this ... for years people said bottom-up stimulus plans would inevitably cause inflation. Injecting the money on top changes little, now it's just trickle-down inflation.
(and if this doesn't hold, I would love to understand why)
yep, also plenty of inflation to see at the grocery store. the 'family size' of cereal is actually the 'baby' size of a few years ago. that's how they can maintain the same price over time.
The inflation is there, clear as day. You're just not looking in the right place and you think you're so smart because of it.