Has the United States overreacted to the COVID crisis?

In 2020 and 2021, the US economic policy response to the COVID crisis has been extreme: Huge expansion of the Federal Reserve’s balance sheet; Larger increase in the fiscal deficit than the loss of GDP. Is it a good idea for economic policy to overreact like this? To be sure, it has help ed the economy to recover and prevent ed households and companies from losing income; But the monetary expansion is so strong that there are already asset price bubbles; And the very high fiscal deficit , even though it will have no significant effect on inflation, contrary to what financial markets believe, will give rise to a huge external deficit, which the United States will struggle to finance, lending itself to a protectionist reaction. But this is more of a problem for the rest of the world.