You do that, and the economy will collapse. The losses incurred by the shutdowns were real. We papered over them with printing money to keep it afloat. Pull back the money supply by 30% to get inflation back to 2020 and you'd see 15-20% unemployment.
We both know the Federal Reserve and .gov would start inflating like crazy people to prevent even the slightest hint of recession—especially in a presidential election year—that is why deflation cannot last long.