Yes it would be inflation - and you would most likely see inflation happen in only those asset purchases...
People incorrectly assume inflation means "the price of everything goes up".
Why is this incorrect assumption to make? Well because prices aren't merely dictated by supply, but rather supply & demand. Comparing inflated money supply to the total good supply is naïve, as this sort of analysis fails to consider the different demand between different goods.
As so, for a dumb example, if the FED just printed tons of money, enough to give each American $10m dollars, and each American said "I'm going to take this $10m in stimulus money, and invest it in Amazon stock", Amazon's stock price would inflate crazy! However, in this scenario meat prices wouldn't change at all, as none of this extra money spurred extra demand for meat - it only spurred demand in amazon stock...
This is predominantly why CPI is a garbage metric of inflation. It does not measure asset prices (such as stocks / real estate), and hence does not measure the inflation that is happening around us (the inflation we're seeing in assets like stocks & real estate).
And the end result is inequality. Those who own the inflated assets benefit from the inflated prices, while non-owners of the inflated assets are at a disadvantage. In this particular case, banks are benefitting from those who want to own a house, but don't already own one.
People incorrectly assume inflation means "the price of everything goes up".
Why is this incorrect assumption to make? Well because prices aren't merely dictated by supply, but rather supply & demand. Comparing inflated money supply to the total good supply is naïve, as this sort of analysis fails to consider the different demand between different goods.
As so, for a dumb example, if the FED just printed tons of money, enough to give each American $10m dollars, and each American said "I'm going to take this $10m in stimulus money, and invest it in Amazon stock", Amazon's stock price would inflate crazy! However, in this scenario meat prices wouldn't change at all, as none of this extra money spurred extra demand for meat - it only spurred demand in amazon stock...
This is predominantly why CPI is a garbage metric of inflation. It does not measure asset prices (such as stocks / real estate), and hence does not measure the inflation that is happening around us (the inflation we're seeing in assets like stocks & real estate).
And the end result is inequality. Those who own the inflated assets benefit from the inflated prices, while non-owners of the inflated assets are at a disadvantage. In this particular case, banks are benefitting from those who want to own a house, but don't already own one.