US Inflation: One year late, percent points short?

I’m not a fan of the current Fed boss, but must admit that Jerome Powell has been able to get some results since he began to raise the interest rates. 

Sure, he should have begun a year before and be more decisive like Paul Volker was in 1980 These past few months though the rate of decline seems to have slowed down as we appear to have hit a zone of diminishing returns.

How soon can the US return to its target rate of 2 percent? Hard to say. In my view, certainly not before 2023 is over, so the meek Powell will need to keep on raising rate and not get distracted by the recent bank failures that have spooked the financial markets. 

This said I’m afraid he will, and US inflation will continue its long grind in 2024...