The answer for now is there is no hyper inflating of the economy... yet. The biggest clue about where inflation is currently at is the bond market. This market has ballooned while short term interest rates have dropped as low as they can go. When inflation starts moving up, and as such so will short term interest rates, the bond market will lose it's luster - and so will the USD. We are obviously not there yet. Before this can happen, the housing market must first level off. But for now it is still spiraling downwards.