I'm not defending Powell.

However, the actual answer is to raise interest rates. Volcker was able to tame interest rates and setup the boom of the 80s.....he had to raise rates to 20% (!) to do that.

I'm firmly convinced that most (not all) of the political grift and even societal wokeism is the result of artificially low interest rates. When you devalue money and time by setting 0-1% interest rates, it winds up causing all sorts of crazy societal distortions.

For one thing, companies no longer care about making actual profits (see Disney, et al) because they can borrow at 1% and plow into stock to pump price. A result of this is a bozo-explosion in hiring, in which companies hire unqualified & incompetent employees, who then further exasperate the companies ability to generate profit in its traditional business (and thus a further dependency on cheap money solutions).