@mwt pay attention to the FOMC minutes as that's the only thing that matters

> whereas if we don’t get inflation under control because we
don’t tighten enough, now we’re in a situation where inflation will become entrenched and the
costs, the employment costs in particular, will be much higher potentially.

They do not want the inflation *entrenched* which means we have to get prices back down which means some deflation.

https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20221102.pdf