What happens when the central bank fails to react to inflation? The examples of Argentina and Turkey

There is now a question in the United States and the euro zone whether central banks could react only slightly to inflation. We can look at two recent examples of central banks that have chosen not to react strongly to inflation: the central banks of Argentina and Turkey. The result is clear: inflation surges, even though growth is weakened, reinforced by a sharp exchange rate depreciation. This may be a concern (although of course the risk of capital outflows is greater in an emerging country) if the Federal Reserve and the ECB also choose to react little to inflation.