Someone has to explain economic theory in practice to the public. Until interest rates meet or exceed inflation rates, there will be too few goods and services chasing too much money. Once the two meet, the downward trend is very, very, slow. That and until energy costs experience downward pressure, nothing will go downward. We need too much oil chasing too few dollars.
You get that right. You are obviously smart.
Federal funds rate less than real inflation rate will be ineffective. Volcker raised rates above inflation and inflation died quickly. Then the economy exploded upwards soon after.