"Hopefully you do not think the Fed literally prints money to add to the money supply." I think you've been asleep for the last 8 years. They have been printing, go look it up. Also, many corporations borrowed immensely during that time to buy back shares and to acquire other firms thanks to the low interest rates. Only one problem, Janet has been ghastly afraid to raise rates because she knows that the house of cards that was built under Obama will implode as these corporations will not be able to repay their debts.