"Four fold insurance": the Federal Reserve will maintain a policy interest rate of 5% in the future or for a long time

Primer

Recently, the chairman of the Atlanta Federal Reserve, Bostick, jumped out and said:

The inflation rate will continue to decline this year and 2025, but the rate of inflation decline will be lower than many people expected. The new "stable state" of American interest rates may be higher than what people have known in the past decade, and may return to the levels of the 1990s and 2000s, but we have to wait and see.

"Back to the level of the 1990s and 2000s" is a very obscure statement: the policy interest rate of the Federal Reserve remained above 5% in most of the 1990s and 2000s.

Figure: During this period, the policy interest rate of the Federal Reserve remained above 5% most of the time