Inflation depends on a number factors, whether it be productivity, supply, unemployment, etc, or how that cash is being spent. If it's being invested, who's to say it isn't in capital goods, thereby reducing cost of goods?
Because it puts more cash back into the economy. It transfers cash from people who previously hadn't been spending it to people who might not be so reserved.
> If it's being invested, who's to say it isn't in capital goods, thereby reducing cost of goods?
That's just the butterfly effect. It's the equivalent to saying that the fed printing money can cause deflation because people might use all the money to pay down debts and then use what would have been interest on the debts to pay down even more principal. It's theoretically possible, and sometimes it even happens, but you still don't expect printing money to cause deflation in general.