Is this the first time we’ve been afraid of Hyperinflation?

I believe we're in a massive bubble, and yet I have everything I own in stocks, simply because I believe JPow could one day cause hyperinflation.

I'm curious, is this a first? Is this the first time in history where people would be more cautious that their government would run their currency into the ground before they would cause a significant drop in the stock market? Now I hear the market is “predicting” a rate hike, followed by a dropping of rates across the board.

In 2008, I doubt even the people buying near the bottom would have expected they might have done QE, outright printing money to buy our own bonds to artificially drop interest rates. Now I'd say its a 60/40 chance they would again, even with inflation going near 8%.

So is this a first in history? Could there be any ramifications of this change in sentiment?