No, I am not getting the requirement of oversteering from the original work at all. Oversteering is a basic principle in control theory. There are only very spe

No, I am not getting the requirement of oversteering from the original work at all. Oversteering is a basic principle in control theory. There are only very special circumstances -- that of naturally self-correcting processes -- that do not require oversteering. And we have a lot of evidence that inflation tends to be a naturally divergent process, and this is why you need to oversteer. E.g. left to itself, inflation tends to increase as workers demand more wages to respond to rising prices, and other firms mark up prices by even more to match expected price increases, etc. Once this becomes rooted in expectations, everyone tries to get ahead of the curve, so to speak. There is also the historical record, not reliant at all on theory, that attempts to tame inflation require very drastic interventions and are very painful. Inflation doesn't just die down on it's own, not when you are talking about the persistent, structural inflation we are facing (rather than inflation just from the tail end of an economic boom). Anyone who thinks that a small interest rate increase combined with patience is going to solve this inflation problem is hoping for an ahistorical miracle.