This reminds me of the overseas cash reserves that corporations hold. They basically wait for a tax holiday. Now that inflation is there, that strategy has an obvious problem.

You're right about consumer stimulus. The worst thing about inflation is that it is unpredictable. Pumping the markets with trillions without meaningfully impacting inflation just causes more unpredictability. Just do "QE for the people", hit your inflation goal and then never talk about low inflation again.