He's sounding a little more bullish, at least through the April timeframe. I personally think inflation is a ways off, there is still too much debt in the system that has not been allowed to be cleansed. Nonetheless, I respect his opinion as he has certainly been more right than most to date.
Note that the rate of money supply growth has just turned down according to John Williams at ShadowStats.com:
Here's a chart of M1 showing a slight downturn:
M2 and MZM do not show the downturns that Williams does, but his data is often updated more often.
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