It’s not just the US Federal Reserve that is completely clueless and crazy, it’s Central Banks all over Western World.
In the UK and EU, the plan that is emerging to deal with skyrocketing utility bills is to cap what individuals and businesses have to pay, the caps will still be significantly above what people were paying in the past.
For example, if a private citizen’s bills are capped at $250 GBP, but the cost to the utility company to produce the electricity is $500 GBP, the $250 GBP difference will be paid by the government, same goes for businesses.
The cost of doing that is going to be in the 100s of billions if not trillions, it will completely wreck their currencies, I can’t see how this type of plan could continue for more than a couple months.
Stop thinking the Fed and Central Banks are clueless - this is all by design to collapse the system that they have already wrecked, so they can introduce their new system.
Because the wage price freeze in the early 70s worked so well.