Yes, the Fed Reserve digitally created money and pumped it into numerous countries' central banks during the pandemic. The reserve banks bailed out corporations and financed private banks, but the money didn't trickle down. Globally, private banks sit on a huge reserve, and lend funds to home buyers, but they consider small business loans too risky.

The lack of government oversight enabled private banks to create a home-buying frenzy (low-interest rates helped), and globally, housing prices skyrocket (New Zealand declared a housing crisis). Centralizing finance in one market and poor government regulation inflated home prices. The Fed is aware of the global housing crisis, and all we can do is hope they don't f*ck over homeowners.

However, if the Fed didn't do anything things would be very dire right now. I really hope the Fed made the right move, but it's going to be a bumpy ride for a while.

Hyper-inflation occurs in economies when there aren't any resources to purchase. The US has plenty of markets to spend money in, but I'm not sure the government bothers to invest in public goods, and that's where we need funding the most. There is nothing stopping the US from using the funds to end poverty, provide healthcare, affordable housing, etc., but they persist.