Most important thing to know is that the Fed is causing bank meltdowns worldwide by raising U.S. Interest rates. This is important

 It's not that the FED is actually wrong in trying to protect poorer people who might starve to death because of food rising prices. But, if you collapse the banks worldwide by raising interest rates then you have lost everything useful in trying to control inflation.

My point of view is that Covid and the War in Ukraine make stopping inflation basically impossible beyond a certain point. And I think we have reached that point whether any people like this or not. 

This is reality now. So, either poorer people will suffer or everyone will suffer if the banks collapse from raising interest rates.

Why does raising interest rates put banks out of business? Because they invested in Treasuries and Bonds which tank when interest rates are raised. This is the problem. So now, they have to sell these treasuries and bonds at a loss which puts the banks out of business.