How Much Pain Will It Take to Bring Inflation Back Down?

The question that's interesting right now, and i'd be keen to hear john's thoughts, is, just how much pain will it take to bring inflation back down? The big event of the late summer was a j powe, the fed chair, emerging as the reincarnation of paul volkar. Inflation is clearly now a fiscal phenomonon. Amm t, i got put to its experiment and quickly failed. But also somewhat to the right of m m t, there was a lot of opinion among main street economists the government debt doesn't matter. Interest trets will be low forever. A the central problem of the economy is lack of demand, secular stagnation. What