Well, it is possible to have both inflation with high unemployment and slow to negative economic growth, that's called stagflation. Although that occurred in the 70's in part due to the oil shock with high oil prices and possible contributions from over-regulation of markets and the then existing gold standard. That is not case with this pandemic-induced recession. Oil price have collapsed for one thing. And regulations have been much reduced (some say we have gone too far to the other extreme of too little regulation against market failures). So definitely more likely to be deflaton.
Maybe the better question to ask now is, how severe will be the deflation..