This the reality because there's no political will for Congress to act, so we're left the Fed to implement anti-inflationary measures. A sufficiently empowered legislature might attack this on the supply-side so that nominal increases in wages could become real increases in wages while discouraging the supply-side from increasing prices to rent-seek those nominally increased wages.
It sucks, but it is what it is. The rich keep getting richer and the poor keep getting poorer.
Price controls were tried in the 70’s and it failed spectacularly and often led to shortages. We had almost a decade of stagflation - poor economic performance AND inflation.
It wasn’t until the fed took control of the money supply in the late 70’s did inflation get under control.
It sucks, but it is what it is. The rich keep getting richer and the poor keep getting poorer.