it's at 3.6% right now, so a bit early to make any calls...also, as the appended CRS Report states in their closing remarks...
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The broad direction of the economy since 2020 has been driven by factors outside the Fed’s (or federal government’s) control—namely, supply disruptions caused first by the pandemic and, more recently, by war in Ukraine. Until the pandemic ends, the path of the economy will remain unpredictable. A soft or hard landing could occur because of outside events instead of any action by the Fed. For example, a rapid resolution of supply disruptions would ease inflationary pressures and boost growth, making a soft landing more likely. Alternatively, if supply constraints take longer to resolve, at that point a soft landing may not be possible because expectations of high inflation have already become endemic.
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Oh, and once again..."Core Inflation" has recently decreased...solve the "Putin Problem" and we're in for a "Soft Landing"...unless enough folks get riled up so they make Inflation/Recession expectations "Endemic"...just a thought.
Link: https://crsreports.congress.gov/product/pdf/IN/IN11963