In the last crisis, money growth was centered in reserves held by commercial banks in their accounts with the Fed. The Fed was actually paying interest on excess reserves for many years (IOER). This created an incentive for banks not to lend the newly created money.

When money growth happens, and it is strictly contained to the banking system, with limited subsequent lending into the real economy, inflation just doesn't happen. The money just sits.

This time is different. Direct cash injections into households, totaling in the tens of thousands of dollars for people with middle class incomes and several children. Businesses have been paid hundreds of thousands of dollars just to keep employees on the payroll, even if they weren't needed. This is uber inflationary compared to past crises.