WaPo:

U.S. consumers expect prices to rise 7.7 percent in the coming year, according to the Conference Board, a research company. Investors expect inflation over the coming decade to average 3.4 percent based on bond market data analyzed by the Cleveland Fed. That is well above the Fed's unofficial target of about 2 percent

They are comparing the economy and inflation to 1973 time frame and implying that they will have to let interest rates dramatically rise to end it.

Great, but first take care of your banker friends Fed., but all means, feel free.