The Fed and the govt want people to spend spend spend those stimmy checks. Not hoard as savings or convert to investments, assets, etc. Consumer spending is the only thing that drives economies of the world.
Just take a look at this chart, and tell me what you see:
https://fred.stlouisfed.org/series/M2VYeah, the goal of stimmy munny is to be spent all over the place. A similar problem happens with "tax cuts" except that munny isn't spent it's simply locked away in companies and bank vaults.
I used to watch M3 carefully, need to see what it's up to, or the replacement of it. M3 usually could show the true inflationary issues.
Still, I didn't think about the link between endless inflation and the disposable economy. Hm.