Until something terrible happens they will keep rates low. The only people who care about high inflation are people who have salary jobs with low raise potentia

Until something terrible happens they will keep rates low. The only people who care about high inflation are people who have salary jobs with low raise potential and people on fixed incomes like annuities. Those people have far less political influence than the rich. Obviously, there may be second order effects that cause another reason to raise rates, but that is TBD