The Fed will find a way to keep rates artificially low. Rising rates would increase the government’s debt burden too much and choke the economy.
The Fed will opt for the path of least resistance and accept high inflation as the price for continuing to levitate the economy. Of course, serious inflation has its own set of devastating effects too.
JMHO
I believe you’ve hit the nail in the head. Artificially low interest rates are great in the short term, but disastrous in the long term. And as we all know, politicians don’t think long-term.
So inflation is on the way. The only question is how long they’ll be able to hide it by twisting and turning the data.