Not remotely enough to cull hyper-inflation. This new spending bill will have us see Venezuelan levels. Interest rates will need to hit 18% to stop this crap.
I remember old bonds at 18% when I started trading zeros. Insane to contemplate in this age of artificially low rates. Eventually market forces will win and interest rates will skyrocket.
Volcker knew this and got ahead of it. The only competent guy Carter ever appointed.
18% may not be enough. These are uncharted waters.
Yes, killing the patient with chemo is a cure I guess.