The money supply (M2) did increase 30% in a year, but for hyperinflation it would have to continue at a rapid pace.
I could see a situation where the Fed starts to taper/raise interest rates which triggers some turmoil, and then re-engages QE in a much more aggressive manner or goes negative rates. That could lead to extreme levels of inflation.
The truth is when you ease monetary policy, you somewhat trap yourself at that level, as people will take on additional debt due to lower carrying costs. This makes tightening more challenging, as the higher debt levels become more expensive to service.
Likely the only way we go hyperinflation is to monetize fiscal spending, thus fiscal spends more, thus we need to monetize more etc.
It is true that the Fed is currently buying 60% of newly issued treasuries, e.g. monetizing fiscal spending by money printing right now. So we're kind of on the verge of MMT here as it is.
Unfortunately the Fed has been pretty cowardly and optimizing for short term outcomes/political appeasement rather than doing the right thing for the long run.
If tightening monetary policy leads to disruption in the markets, we may just need to eat the short term pain. The consequences of continuing to monetize deficit spending and stoking rampant speculation are too great IMO.
We may see very high short term inflation if supply issues continue to worsen and widespread shortages develop. In that scenario prices would rise to compensate, and demand destruction would likely lead to a resolution. Of course, that's how layoffs start, and the whole thing becomes stagflationary.