Yes, quantitive easing creates inflation. You can get rid of the extra money in three ways:

1 pretend to solve the problem by slowing the movement of money, by raising the interest rates on new mortgages;
2 punish everyone with a mortgage by raising interest rates, when not all of them got the extra money (what happens in Australia, taxes on interest repayments are used to cancel the money);
3 order the banks to increase their deposit lending ratios - holding back money - squeezing businesses instead (less spending). It affects the largest companies the most, and therefore the wealthiest who own shares in them. The Australian Treasurer, Jim Chalmers, is currently trying to limit this option;
4 do without foreign investment, buying them out removes money from your economy, so it's the same effect.