The problem with raising rates to deal with inflation is if you have debt the entire system will seize up.
We should be understanding why on earth there is so much interest on Russia at the moment, its because the USA is literally stuck with too much debt, not low enough inflation, BRICS *Russia* notices this and has made a move right in our faces.
And honestly Russia have done nothing but want to help throughout history they just want their fair share of resource profits, rightly so too.
Middle east / Petrodollar.
Russia / BRICS.
This will mean the more BRICS + currency is adopted the less power QE in the USD will have meaning more QE until hyperinflation, good luck trying to stop a country with more nuclear weapons than all of us combined.
The end of the dollar in its current form could be here before 2030.
Gold / BTC sniffing this out. . .