I recently listened to a podcast with Joseph Wang, who worked at the Fed. While I wholeheartedly agree that central banks are bad for a free market economy, his take was that the Fed wouldnβt have to implement such drastic measures if the government stopped spending so irresponsibly. IE: federal deficit is 118% of GDP. Unfunded liabilities of $133T. Interest on federal debt is growing faster than income. Etc. etc. etc.
The point being is that even Keynesian economists believe that the federal government has put us into a debt spiral and extreme inflation is the only way out.