8/9. This is the Fed’s record on triggering a recession while trying to fix inflation.

Nine times since 1961, the central bank has embarked on a series of interest rate hikes to contain inflation. Eight times a recession followed. According to a March 25 report from investment bank Piper Sandler, the only real “soft landing” – as significant rate hikes without subsequent falls are called – occurred in 1994. It’s not a great track record.