I disagree. The Fed, through Powell, now finally have the guts to do what is necessary because he is no longer intimidated by Frump. Full-bore, fuck the world, let's get it under control. Interest rates go zing!
Powell is a weak man who easily capitulates to the market. He couldn't even normalize interest rates in 2018 when the debt (and debt to GDP) was much smaller. It's only a matter of time before he capitulates.
It's a shame Milton Friedman isn't around anymore. But I'm sure libertards would still be accusing him of being a racist white man and all, in favor of stopping the printing press...