I'm not an economist, but I do listen to a bunch of them. My understanding is that printing money doesn't necessarily create inflation, and the real story is far more complicated than that. That it also depends on things like: the overall economy, how that money is being spent, demand pull, cost push, public fear of inflation (which causes ->), how much money is circulating vs how much is being pooled (investments/into banks/under the mattress), and more.

ometimes first order approximations (or "basic principles") lead you in the wrong direction. My understanding is that economics is full of pitfalls like this.