Ep. 34: Velocity Turns Higher...Whoops!

Let's see, the cue card here says that money velocity is an anachronistic concept; velocity is a plug number that has no economic significance; its value has been 'disproven'; and anyway velocity is dead forever so, not to worry.

It's a good thing that the Inflation Guy doesn't read cue cards! Otherwise, he might not have expected the current turn higher in money velocity, and he might be tempted to believe market pricing that says inflation is about to obediently plunge back to the Fed's target. And where would be the fun in that?