No, seriously if automatically. The last twenty-five years of our financial history should demonstrate that the Fed pushing interest rates up or down has little effect on anything. Kenneth Galbraith made the same observation based on his experiences managing the Great Depression. They do it to be seen as "doing something" but when the chips are down it's largely ineffective. No, the one device that really will slow inflation is serious tax increases. Congress doesn't like to raise taxes at any time and the GOP is opposed in principal. Enter Trump. Or rather, the Trump Tax Code. There are a number of things I like very much about the Trump tax reforms but the gigantic tax cut for the wealthy and corporations wasn't one of them. Well! The cuts expire in 2025! We will have a significant tax increase only, say, a year later than ideal but with neither muss nor fuss.