Massive government intervention into the energy markets brought down inflation not Central Banks.

Federal Reserve interest rates did not bring down inflation (white line).  Rather it was government intervention into the oil (orange line) and energy markets, more so the crimping of Natural gas prices (blue line) that did the trick.  Refer to the chart above.  Which shows the oil/Nat gas prices closely linked to U.S. inflation.  The panes beneath the main chart show housing starts and U.S. interest rates.  The housing 'booms as you can see during and after 2020, are still buoyant even with current rates at 5.25%, with housing starts on par when rates were at 0.25% from 2020 to 2022.  Until the Fed gradually increased rates when inflation was admitted to being a problem.

Are Central Banks slow to the game or generally inefficient mechanisms?  Or both?

Refer to WSJ article:  "What Fed Hikes? Much of America’s Consumer Debt Is Still Riding Ultralow Rates"

___

All market commentary/analysis to date:  chiasmusmagazine.blogspot.com/search/label/markets