That's exactly why they're printing so much money. Deflation would cause a deflation spiral - i.e. a short squeeze on the dollar. They can keep doing it, but it's basically a mass-scale confiscation of assets from people. Not sure if that's the goal.
Apparently in the age of WSB apes, everything is a “short squeeze”. Even GME wasn’t a short squeeze (the SEC report clearly presents irrefutable evidence) and neither is deflation.