The Fed's Reaction to Inflation

The banks do have to book losses. I think there will be consolidation. It's nowhere near as severe as a great financial crisis or the savings and loaned crisis. We're still not completely certain how the Fed will react. Will it be content with inflation, just whatever it says, getting below 3%, or is it actually going to drive inflation down to 2%? The single most important day in the next six months is what has been called on Wall Street the pivot party when the Fed finally says either they're done or better yet actually drops rates a bit.