The fiat money scheme only works as long as credit can grow in aggregate. A large part of this is due to the states with their immense debt policy, which has long since led to large parts of the bond markets no longer being able to absorb the respective national debts. If this happens, interest rates will rise to a level that could cause national budgets to collapse, which would immediately call the respective central banks, the state money printing presses on the plan. So we can also assume that the Federal Reserve in the USA will soon have to return to what they themselves would call 'normality'. That means with further rising interest rates: more fiat credit in circulation!