Of course it's "uncharted" because we haven't been here.Maybe we are, but nobody can predict the future and anyone who says they can with 100% precision is a liar.
Everyone in economics agrees we are entering uncharted territory. They don't know what lies beneath the waves.
Beware the Kraken !
However it's pretty obvious that we're headed for trouble.
We're facing high inflation for several reasons.
1. Limited supply of in demand goods
- Oil & Transportation
- General supply chain disruption
Hiking interest rates vs the first half of the inflation cause is BOUND to fail.
The idea that we'll just make people so poor they stop buying stuff, particularly essentials like food, is the DUMBEST way to fight inflation.
Like sure if you starve people maybe it will lower inflation, but that's a pretty heartless way to solve the problem.