Somewhat like the beachball on the sealions nose, I see the economy as being inherently unstable. Too much movement too quickly and the ball is dropped.
Like any mechanical or electronic system, the economy has a given response time to any stimulus, in this case interest rate hikes. If this stimulus is over applied, the economy will not necessarily react any faster, but will eventually catch up and overshoot the point of balance. One effect of this overshooting, I suspect, will be an over-suppression
of consumer spending - not good either.
A 50% increase in one year just seems too fast to me. As an engineer, not an economist, I cannot back this up with anything - it's just an opinion and there's a good chance it's rubbish.