Is There a Long Term Inflation Problem?

In the wake of a banking crisis like this, it's very rare for the Federal Reserve to continue tightening monetary policy. All those people who just a few days ago were saying the terminal rate for the fed funds would be 6.25 are radically retelling their story with the five handle or lower. And I think in that sense for the feds have blink now. That suggests to me that we're going to have a long lasting inflation problem than many people were assuming just a few weeks ago.