Inflation seems to be out of control and people are starting to anticipate a 0.75% rate hike. This picture started circulating around twitter:

Based on this, If you believe that the worst of the fallout of the Russian invasion is at hand, the effects of the pandemic will fade (supply chain), and the fed can use monetary policy to slow growth in the economy so it doesn’t blow past full employment and cause wage price problems to manifest- inflation should moderate.

Is that all going to happen? No clue but over time it seems more then likely.