Yes, monetary policy didn’t become loose enough to create meaningful inflation. That doesn’t by itself imply that monetary policy didn’t become loose, because the theory of inflation here (monetarism) could be wrong. Nonetheless, I think your summary is only slightly misleading.
You could swap in an alternative phrasing that clarifies that I merely demonstrated that the rate of inflation was low, and then the summary would seem adequate to me.
Yes, monetary policy didn’t become loose enough to create meaningful inflation. That doesn’t by itself imply that monetary policy didn’t become loose, because the theory of inflation here (monetarism) could be wrong. Nonetheless, I think your summary is only slightly misleading.
You could swap in an alternative phrasing that clarifies that I merely demonstrated that the rate of inflation was low, and then the summary would seem adequate to me.