Yes, you are right but in a free market economy, monetary policy...

Yes, you are right but in a free market economy, monetary policy is only option; psychology is all important in reigning in inflation, if businesses feel they can’t pass on higher prices without a loss in demand, they would be less embolden. Maccas $5 meal is one illustration. Boomers never have it better- higher interest income for longer so they can continue to travel and spend. A stock market crash would address that, but no one would want that- unintended consequences.