"the central bank’s emergency remedies increased the nation’s money supply by an astonishing 40 percent." while it sounds high it's actually not even close to what was done in the Great Depression.
"Instead, the financial institutions that the Fed paid for those bonds parked more than $2 trillion in their accounts at the central bank while American households banked much of their stimulus checks and now sit on an estimated $2.7 trillion in savings."
The people saving the money is great, we need more savings and less personal debt. The banks pocketing 2 trillion dollars in stimulus and not spending it, is terrible. We saw this in the first 2 stimulus rounds all the reports of fraudulent PPP loans, but in all 3 stimulus payouts it appears banks were asking for and getting money they didn't need and had no intention to spend. Add in the other non covid and non stimulus things the money was spent on, in all 3 of them, and not much surprise we have inflation now I guess?