It’s stupid because oil prices don’t cause inflation.
OK, let’s take a different tack.
You said,
>> Central banks everywhere are fighting oil prices with higher interest rates. It’s a stupid thing to do.
Then you said,
>> It’s stupid because oil prices don’t cause inflation.
That hinges on your assertion that central banks are fighting “oil prices” with higher interest rates.
Do you have any support for that assertion? Can you point me to a link that gives evidence that central bankers claim higher interest rates are “fighting oil prices”?
Because I think CB are fighting CORE INFLATION (not “oil prices”) with higher interest rates.