Let me tell you what i see:

If you go back in the time we have the famous high inflation of the 80', look when the FED started to rise rates. Even BEFORE to the CPI increase.

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Now come back to our current high inflationary stage, look when FED started to rise the rates AT THE MIDDLE of the current rush of the CPI.

The timming is very important, FED is trying to stop a more powerfull inflation (see the slope) starting too more late!

Also consider that now economy cant support the high rates like before, whe have a lot more of debt and leverage economy.

If FED fails, and fail mean drop the rates to save the economy, then inflation will win this war and this also means the beggining of the end for FIAT hegemony.