To truly keep prices within 2% YoY, they'd have to raise rates so high that the assets held by elderly get curb stomped to oblivion, and now you have a whole set of new problems.
The other alternative is a technological revolution that frees everyone up to do the in-person things driving cost hikes, and frees them to plug the holes forming (due to many factors) in the international trade system.
I don't see an alternative where the not-working, elderly, and needy come out ahead here, even best case is a lesser form of bad for them and the services they demand.
The massive stimulus combined with the rising millennial generation is driving inflation along with supply chain challenges, breakdown of globalization and a massive increase in the Feds balance sheet. The question isn’t why there is inflation but the question is why is there so little?