Inflation Math

So hold on
Here we go
Hold on
To nothing we know
--The Motels

M1 is considered the narrowest, most liquid form of money. Physical coin and paper money, demand deposits, traveler's checks, other checkable deposits (OCDs), and other liquid deposits including money market deposit accounts. This is the form of money closest to making purchases and paying bills.

As you can see from the graph, M1 money stock has, um, grown significantly in the past year. The surge is primarily a function of the Fed's debt monetization operations to counter negative economic impacts of CV19.

Do the math: supply chain shortages + pent up demand + a mountain of new minted cash = ?