That's true in theory, but in practice I don't think it works that way. The executive and popular opinion can put pressure on the fed, and even absent that the

That's true in theory, but in practice I don't think it works that way. The executive and popular opinion can put pressure on the fed, and even absent that the fed does in fact care about the stability of the nation more broadly than that mandate suggests. I agree with the parent that the fed is very unlikely to raise rates to double digit levels given the high level of government debt. More likely we'll have an extended period of high-but-manageable inflation, and inflate away some of that debt (and some of everyone's savings).