Laura Bartz, Chapter 10, Question 6

When I was younger I always thought that America would never have money problems because they could just print more money. I mean it makes sense more notes means more money, end of problem. But one very important criteria for money to work is that it has to be scarce. the more money there is floating around, the less value it has and therefore the less useful it is for solving the problem. So my question is, if we find that inflation is increasing too quickly, when money goes through banks to the federal reserve can and do they just pull notes and not let as many go back out?