Steeply negative real rates will do nothing to fight inflation

 Generally, it’s hard to bring an inflation spike under control unless interest rates rise to a point where they’re above the rate of inflation. That, at least, is the learning of history. 

John Authers Bloomberg December 17, 2021  

https://www.bloomberg.com/opinion/articles/2021-12-17/inflation-and-omicron-end-2021-s-initial-promise-of-normality-onward-to-2022