BS
We can’t create paper money at the breakneck speed we are doing on top of nearly incalculable debt and get deflation.
Every other country that has devalued their currency like this has had hyper inflation. It is utter hubris to believe the US is somehow immune to the laws of economics which rule everyone else.
I think the only way we get deflation is a genuine collapse and defaulting on government debt.
The Fed is currently in QT, not QE. M2 is down nearly $1.5 trillion since they started. There is still about $3-4 trillion in excess liquidity, but it is being destroyed at a rate of about $75 billion a month.
A day of reckoning is coming for the horrendous fiscal and monetary policies since the 1960’s when LBJ decided to fight a war in Vietnam and a war on poverty at home.
Kicking the can down the road means the point at which we bite the bullet is going to be extremely painful. Best to start the process now by having the Fed stop stetting interest rates and let the market determine them.