Hoarding is good because it means the money has perceived value. As for the big banks, they don't hoard money. The Fed gives them gobs of money, then they send it out in various ways that don't help the economy. They basically play short term speculative games with the money that results in small booms and busts (or large ones like summer 2008). The larger the boom and bust the worse off the rest of us end up. Hence the Fed policy is bad for the rest of us when it works (fortunately it does not). The main result of that policy is that the people that run the big banks get very wealthy. But they are not hoarders either. They send the money out to the same speculative investments that they do at their day jobs at the big banks. A lot makes its way into the stock market.
I know the mechanics. They are not putting the money into Main Street. As far as I’m concerned parking it with a prop desk to buy share in corporations who in turn borrow money to buy their shares back instead of expanding,r&d, and hiring is hording.
The author of this piece who states the consumer needs to return after seeing not only their incomes drop but their jobs leave for other parts of the world and their healthcare and basic day to day expenses such as food go through the roof needs to be bit$$ slapped.