If you're "sure the fed is monitoring the hell out of everything", then why make a statement like "They don't want to wait and see what comes of the hikes they've already made"? Every statement they've made announcing each rate hike has specifically mentioned the effects of the previous increases -- inflation has slowed. It's working.

I think I agree about correcting the imbalances from the lockdown, if I understand you correctly, but I'm not sure you understand how inflation or interest rates actually work. If I had a million dollars, how is inflation is my biggest monthly cost? Maybe champagne is my biggest cost.

And re: "On the other hand it’s not so obvious that higher rates bring down inflation other than just through throttling the economy", it IS obvious. That's why they're doing it. Raising interest rates is a proven tool for bringing down inflation. And it's working.