> they hike rates, but not enough to offset inflation, and so real interest rates remain negative and prices keep going up. So stagflation, with the prices goi

> they hike rates, but not enough to offset inflation, and so real interest rates remain negative and prices keep going up. So stagflation, with the prices going up but down in real terms. That seems to be the best case scenario, the way to reduce overinflated asset prices without causing a panic. And I'm pretty sure central bankers are currently dreaming of pulling this off, but it seems the market is much more aware of inflation than it was in the 70s, so I'm not sure it's more than a dream.