Some asset prices have been inflated (especially gold and bonds), but overall inflation has remained relatively low because people and businesses have been holding large cash balances, and banks have parked their excess reserves at the Fed for a risk-free return.
Not even critics who complained that bailed-out banks were given free money by the Fed to generate fat interest spreads, then reinstated dividends to make their stocks rise in time for bonuses to be paid out, are saying anything about closing the barn door after the cows have gotten out.