Inflation on track for 1970s repeat; did the Fed make a mistake?

According to global capital markets commentary firm The Kobeissi Letter, the Fed made a huge mistake in initiating an aggressive approach to interest rate cuts, which began in September. The Kobeissi Letter shared charts showing a similar trend to a spike in interest rates in the 1970s and mentioned that the same might be happening to the inflation rate now. source: https://www.cryptopolitan.com/did-the-fed-make-a-mistake/