No worries about inflation yet - in fact the Fed needs to drop the rate a bit in July to help stave off a serious slowdown or beginning of a recession...the fed tends to cause the recessions it then claims to be fixing and they jumped the gun, bigly, when they started some concerted rate hikes last year.
I wish the Fed would just go away and let the markets live and die. But Noooooo! Millenials cannot handle a recession! Ha Ha.