Product pricing is not, in any way, a function of production costs, unless there are readily available alternatives (competition). If it is true that Canson Infinity Rag Photographique has no substitute (competition), then their pricing will be based soley on that price/supply that will maximize their profit.
To believe that the Federal Reserve can issue trillions of dollars worth of dollars into the market, putting trillions of dollars worth of debt on the books and it have no impact it to be totally naive. If the Fed can't accurately set the price of a gallon of milk, to believe they can accurately set the price of money it equally naive.
Every Econ 101 book will tell you trade occurs when the value of two items is perceived to be equal. That is because that is the only time a monetary calculation can be made. However, in reality, trade will only occur when the perceived value is unequal. A photographic print is sold when the printer believes the money he is receiving is of more value than the print. The buying will only buy when he perceives the print to me of more value than the money. No calclation can be made because no one can know how much more the printer values the money than the print or how much more the buyer values the print over the money. If the perceived value was equal, no trade would occur because the transaction costs involved.