It's

 

already to late.

The Fed must control Inflation for public safety's sake

"We have vivid historical examples of the havoc that runaway inflation can cause: Germany immediately after the First World War, Argentina during most of the past four decades, Venezuela after the election of President Nicolás Maduro in 2013. In each instance, mass suffering ensued, political conflict increased, civil disorder spread, and crime rates rose."

It's pretty much what we can expect.

"Rampant inflation has momentous effects on public trust, social order, and political stability."

"Distrust sows discontent, hostility, and conflict—the preconditions for violence."

Inflation has more immediate, direct, and widespread consequences for economic wellbeing than any other economic factor, especially for those of modest means. Except for the very wealthy or business owners who can adjust their own prices, inflation affects everyone.