There are other factors affecting inflation outside of monetary policy. Yes, the “cheapening” of money will create inflation by definition, but the system is more complicated to analyze.

Countries with higher welfare don’t have greater inflation rates necessarily, they reach an equilibrium at some point. The example of post WW1 Germany doesn’t exactly line up with this scenario; at the time Germany’s economy was destroyed and introducing monetary policy as temporary relief ended poorly.

If we look at cost driven or demand driven inflation, AI will shift the supply curves of products due to the expensive nature of labour in western countries and the productivity gains of AI. This in theory could offset the inflation of giving people more access to resources.

I think the monopolies/competitive nature of tech companies will factor more and more into inflation compared to governments as we continue marching into the digital age. Market caps are continuing to grow with lower competition in many fields due to the scale benefit of data driven companies.

At the end of the day, until we get some serious implementations of the policy we won't be able to see the consequences without empirical data to analyze. I’m more concerned at this point about governments not reacting quickly enough to technology changes as compared to spurring major inflation from such a policy