> Smack the economy with a 2x4 to kill inflation.

Who cares about the broader economy. First-most they are smashing USG Treasury with a 2x8. Tax revenue down across the board (income, capital, corporate, you name it), social programs spending up, deficit through the roof. K.O.

They can raise the rates all the want, but as long as they are monetizing the deficit, it will be multi-trillions of money being pumped into broader economy anyway.

There is no other way then to print and incinerate the debt in a inflationary inferno.