What will the Fed do??

The government has infused Trillions of dollars into the system - which in a vacuum for right now, was the right thing to do. HOWEVER, forget about predicting inflation or speculating on inflation. A direct result, if the government's attempts are successful, WILL be inflation. No doubt. The only real tool the Fed has is to print new monies and infuse into the system to jump start things or to raise rates and try to cool things down. As mentioned before - eventually, near term, buying power will errod.