We're not MMT, so the inflation risk is lower. That being said, MMT still doesn't trigger inflation.
Steven Globerman 20, Senior Fellow and Addington Chair in Measurement at the Fraser Institute, and Professor Emeritus at Western Washington University, "Modern Monetary Theory, Part 4: MMT and quantitative easing," 5/28/2020, https://www.fraserinstitute.org/blogs/modern-monetary-theory-part-4-mmt-and-quantitative-easing
The expansion of the money supply by permanently implementing MMT clearly raises more of an inflation risk than does QE. Still, proponents of MMT offer a second reason for being sanguine about the risk. Namely, an aging population increases the propensity of society to save, as individuals build savings for their projected retirement. The demographic phenomenon is being augmented by the economic uncertainty created by the COVID-19 crisis. Households and businesses save more during periods of uncertainty. An aging population and economic uncertainty suppress the growth of private-sector consumption.