I don't like the use of "QE for the people" in this article. The gov't is not securing my debt or giving me money to deposit with the Fed for 2% risk free. In fact near as I can tell nothing has changed for me, one of the people. If QE for the people was like it is for the banks it would be free money. $1.3T would be about $4k for every legal citizen. The Fed will easily hit $1.3T in the next 1.5 years.
That would be inflationary . Since this new QE money is not really going to "we the people" it is going somewhere else. Putting $ into infrastructure thru prolific gov't spending is not the same QE for the people. It is probably going to the banks as the prime beneficiary, and then a smidgen to people thru public works. So I don't believe inflation will be rapid. More of the same.