Yes, interest rates will inevitably rise if/when inflation takes off. Never say never, but I agree hyperinflation usually only occurs in very unique situations. I don't think that's the issue.

The bigger problem is timing the interest rate increases. Japan raised interest rates in 1990 a little too late and a little too quickly. They were coming out of a recession in 1986. The BOJ decided not to cool down the economy because of Black Monday in 1987. By the time they decided to slow down real estate speculation, it was too late. The money tightening resulted in a real estate/stock market crash that the country has grappled with, ever since.

There are many more examples from history of Central Banks getting the timing wrong. We have to consider the possibility the Federal Reserve might also get it wrong.

Anyway, one way or the other, it will be interesting to see how Central Banks handle this recovery.

Thanks again for your comments.