Inflation will come. You can not print this much money while large chunk of the economy is not functioning and expect anything else. Degree is the question. If the free cash stops some time soon bump in inflation should be manageable over a period of few years. If this keeps going and going the payback/hangover will be nasty.

This applies not just to US but Europe, Japan etc. Nobody knows what exactly going on inside PRC as their numbers can not be trusted.