> You need more than just dynamite to sculpt Mt Rushmore. Not really. Volcker did his job with dynamite just fine. You raise interest rates above prevailing in

> You need more than just dynamite to sculpt Mt Rushmore. Not really. Volcker did his job with dynamite just fine. You raise interest rates above prevailing inflation rates. Easy. But the current Fed is stuck. They can't fix inflation Volcker-style (hiking to 9-10%) without destroying the bond market and kicking off a cascading debt crisis. So they're targeting a middle-ground terminal rate of 4.5% and hoping the can will be kicked long enough that it will be someone else's problem in the medium-term future. Good luck to them.