Article explains why printed money did not cause inflation yet. But this money will be spent eventually. It is very naive to think that this money will never be in actual circulation, and it is naive to think that bank money creation mechanism won't multiply it like 20 times.
And what FED is going to do when inflation kicks in eventually? Sell bonds? This will remove bearly 1/20th of injected money due to what I said above. Not to mention the fact it will make goverment borrowing fuckin expensive.