Will signs of peak inflation bring about a turnaround in 'growth' stocks?

The U.S. Federal Reserve and other central banks face a complex challenge—how to control extreme inflation while not driving the global economy into a deep recession. The questions for equity investors are: When and how does inflation peak, and how does this impact economic growth and corporate profits, given that these are two of the key drivers (along with valuations) that typically dictate the direction of equity markets?