undoubtedly the plan is to have inflation run hot and inflate the debt cost away in present value terms
that was the plan under Trump - and it will be under Biden or anyone else - because economically its the only choice they have outside a massive austerity program which no US politican would ever support
The US Fed may notionally be the decision-makers - but they wont do anything of that sort without agreement of the govt of the day
avg working joes who dont have inflation protection of some sort are going to be absolutely livid in 5 years
