Inflationary monetary policy works in a classroom, it generally stops there.  The fed can't control inflation.  They try and alter it, but they can't pick what it should be.  Inflation has decimated the real returns on Wall Street.  It's great to say it's avg historical return is above 10%.  That's great, but once you factor in inflation, the money made is eaten by it.  

There is little the Fed can do now to stop inflation.  It's nearing 10% annually.  So they should stop raising rates and just let it get worse?  I highly doubt they will really let that happen.  If they Fed follows public policy (which is to control inflation) then they will be raising FF rates.  Please convince me otherwise.