if US dollars continue their expedited inflation

There's a big big BIG difference between USD becoming volatile, and USD going down more quickly in a completely stable fashion. High inflation can easily be offset by increased yield, while high volatility can not. Luckily it is extremely unlikely that USD becomes volatile.

HBD is just a derivative asset; how we use and what it's pegged to it is up to us. I've been theory crafting an idea where the derivative asset is actually a volatility token whose purpose is to stabilize the primary asset. Prime asset price is too high? Dilute it by burning the volatility token to create more asset. Prime asset too low? Sacrifice the volatility token to burn governance tokens from the liquidity pool. I would not be surprised if this became standard practice in the future for any coin looking to stabilize their volatility by creating these types of elasticity.