It will definitely trickle down to the real economy, just like it did 2009 - 2019.
During that time they managed to keep a lid on food prices, gas prices, and some services, but literally *everything else* skyrocketed: houses, student loans, new cars, new phones, utilities, phone bills, health insurance, etc. And that was all during a period of global deflation!
You can't have all those things skyrocketing while people's salaries remain stagnant over the same period. That's inflation (actually stagflation) and that's why people feel poorer and poorer over time.
It's going to be even worse over the next decade. MUCH worse.
I'm not sure it
did trickle down...
In the same bill where congress approved $800B+ in 'fiscal stimulus', they also approved a measure that allowed the fed to pay interest to banks on excess reserves. Until this time, banks naturally kept
excess reserves as close to zero as possible; however, as soon as they started making money off them, reserves skyrocketed. In the graph below you can see that shortly after the 'fiscal stimulus', the excess reserves climbed to over $800B almost immediately. Coincidence? Maybe

They continued to climb, and are still very high:
