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Maggoty ,

Where in my comment do I even mention interest rates? At any rate, you’re not wrong that they’re supposed to curb inflation but they haven’t. You’re own source says-

Leila Bengali decomposes inflation into interest-rate responsive and unresponsive categories. (whether each inflation category has historically declined >after a surprise interest rate hike)

Current excess inflation is entirely due to the unresponsive categories.

That’s that flat red section. It’s unresponsive to the rate change. You can see the blue section responded even before the FED actually made the change. That’s when the FED made statements about raising the rate. So we can see that the responsive section was very responsive. But the unresponsive section is keeping rates from properly coming down.

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