modern version of printing money is Quantitative Easing, but the US is in the opposite, Quantitative Tightening mode since 2022. Federal Reserve is essentially taking money out of circulation for the last two years.
On a log scale (you can select this on your graph) we're basically moving on the same trend line as we have been since 1960. Covid caused a big jump but the years of stagnation since then mean we're back to normal.
