Why a 1918 navy cannot answer super-battleships with carrier spam

Why would the United States not simply answer early 20-inch battleships by mass-producing carriers?

Because 1918 aircraft could not yet defeat battleships reliably; the navy could invest in carriers and submarines while still hedging with a battleship.

The correct response depends on the technological date. In 1940 a navy can plausibly build many fleet carriers because aircraft can threaten capital ships at useful ranges. In 1918 those aircraft are still nuisances rather than reliable battleship killers. A prudent navy would continue developing carriers and submarines, but also build a large battleship so that national defense did not depend on an unproven forecast.