There's a line between hyperinflation (spiraling out of control) and high inflation. My opinion has been and continue to be that to deal with the crisis, we would need to roughly double our money supply, and use that to prevent structural damage during shutdowns.
The alternative would have been to delay all fixed obligations -- loans, mortgages, etc. -- by the duration of the shutdown. No interest accrues for some number of months.
Those both would have required coordinated, thoughtful efforts. Neither of those happened, so hyperinflation is certainly possible at this point, as is economic collapse.
We'll see!
However, the huge flaw in using the Chapwood Index is that it claims the US economy is shrinking when the official stats say it is growing. Feel how you may, that is an extraordinary claim and requires stronger evidence than "I have a really professional website" and "it makes sense to me".
I personally think the idea that the M2 growth we're seeing is OK is absurd and I've been very happy with my gold holdings. If it isn't doing a great deal of damage, empires would have been using this tactic to great effect for centuries. But nobody has come up with a watertight case linking monetary recklessness to anything, so it really is still a personal judgement call.