They aren't doing anything but protecting themselves with a bigger slice off the top of every deal. Higher interest rates will make housing prices drop, but the payments will go up. It is a net loss for anyone who needs to sell a house and move someplace else.
The most direct way to "attack inflation" would be to end the student loan program entirely and immediately. It is a totally unproductive expense financed by "printed money". Make all those loans dischargeable in ordinary bankruptcy - like they used to be. And make those discharges exempt from income tax liabilities. Free the (debt) slaves!
Get the students out of "higher education" and make them get real jobs.
You want to see "asset deflation", watch 60% of our colleges and universities close (and they should close). Lots of cheap rental properties become available and rents go down.
Then dump the requirements for using ethanol in vehicles. Another useless expense that we cannot afford as "the chickens come home to roost". Hey, the chickens can eat corn. Or maybe people can eat corn.
Then dump all the subsidies for Electric Vehicles and "Green Energy Systems (Solar Power, Wind Power)". They don't work as reliable power sources to run civilization, since they require more energy to manufacture then they can produce over their lifespan. Nobody beats the laws of physics and thermodynamics.
Then start prosecuting Pharma and Healthcare executives for violations of antitrust laws and require transparency of all medical prices. No more special hidden deals where insurance companies pay out 3% of "list prices" and the uninsured pay exorbitant medical costs.
Best to stop with the "mandates" for COVID-19 mRNA treatment, deceptively called a "vaccine". It is neither safe, nor effective, but to date it has been forced on almost 260 million people in this country. About 14% of them are likely to suffer severe disabling effects over the next decade and as rudely as I can put it, there is a terrible economic cost ahead of us for all of that failed experiment. We have really screwed over the health of people in the 16-49-year age range, who are the most productive workers.
Getting out from inflation requires productive workers.
When you are in a hole, it is best to stop digging. Maybe if we stop pushing the "boosters", some of those patients vulnerable to the adverse effects can recover.
As you may have noticed, these things are not yet happening.
"But we are sick and tired of hearing your song
Telling how you are gonna change right from wrong
Cause if you really want to hear our views,
You haven't done nothing"
Stevie Wonder, 1974
https://youtu.be/QxrzT8WNxDc