Note that cult-IN-flation

“The simple premise of the quantity theory of money is that for a given velocity of money, the higher the growth rate of money supply relative to the real gross domestic product (GDP) growth rate, the higher the inflation rate. In this framework, ensuring that monetary aggregates stay within an estimated equilibrium growth rate is key to controlling inflation. But estimating this target growth rate depends on the predictability of the demand for money, which in turn depends on the stability of velocity.”