Hyperinflation is caused when faith in the fiat currency is lost; that has not been reached yet.
But QE will definitely continue inflation. The only people that will benefit from it will be the banksters; they get to spend the money before supply/demand is thrown out of whack by the increase in the supply of money. By the time the money gets down to the other groups--which will be no money left over--prices will have gone up, further dwindling the middle class.
Eventually the whole charade will cease when this reckless printing of money continues to inflate and devalue the base of money. Causing countries to stop holding US dollars, and in return causing GDP to rapidly fall, causing depressions throughout the country. People will start to lose faith and the Fed will print even more out of desperation. That's when you'll find your $10 milk and $15 gas.
But the events to cause a hyperinflation may not ever come about due to other political events. It just depends.