Interest rates are still highly negative (easy) in real terms. Government policies are intentionally the cause of the inflation and product shortages. This is all by design and the result will be, largely, the elimination of the middle class. If the economy cannot live with positive interest, then there are massive structural problems. If those are not addressed, at some point, the system will collapse uncontrollably. Laws of economics can only be ignored for so long.
I’m not convinced the fed rate can have direct impact on inflation.