Jerome Powell said that the “central bank will keep raising interest rates to tame inflation.”
This means that the Federal Reserve is not serious about ending inflation. Powell and his cronies know that the stock market and a lot more will crash if they raise interest rates above the rate of inflation.
Instead the Fed will simply attempt to “tame inflation.” by continuing to raise interest rates but not above the inflation rate.
This is chasing the tiger by the tail. `
Eventually, I expect the Fed will either capitulate on raising interest rates and lower rates to resurrect the economy, thus letting inflation run hot. Or the Fed will simply stop raising interest rates and let inflation run hot.