Hyperinflation is caused by the Fed buying Treasury debt and turning that debt into currency. The more Treasury paper the Fed buys, the lower the dollar will fall in the foreign exchange markets. Which describes what is happening with the dollar and the Treasury yields recently.
The Fed is caught in a web of it's own destruction. Now, to keep a lid on interest rates and feed the government with the needed money supply that it wants - the Fed must keep on printing money in ever increasing amounts.
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crises should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
-Ludwig von Mises,
Disclosure: No position.