It is understandable that central banks have no desire to raise interest rates

The Federal Reserve and, even more so, the ECB clearly have no desire to raise interest rates sharply. They are late to react to inflation, and for a long time they argued that inflation would disappear without their intervention. It is understandable that central banks do not want to raise interest rates: This brings them back to their traditional role, whereas they had developed new objectives: supporting the employment rate and potential growth, reducing inequality; This endangers public debt sustainability and the ability of governments to make the necessary public spending; This jeopardises the ability to make energy transition investments, whose financial returns are often low; This raises the threat of a financial crisis if there is a sharp downward correction in asset prices (equities, real estate, etc.) and a sharp increase in risk premia. So it is obviously with reluctance that central banks will have to fight inflation.