Galbraith is both right & wrong, and ultimately misleading.
(1) He is right that Larry Summers. Jason Furman, etc. have been far too hawkish about inflation.
(2) He is wrong with his claims about heterodox economists getting it right. Heterodox economist like Randall Wray rejected raising interest rates at all, and Wray has called for permanently parking the federal funds rate at zero.
(3) The counter-factual is what if the Fed had left interest rates at near-zero? In my view, we would have had a massive asset price bubble accompanied by much higher inflation, which would have forced another "Volcker moment" that would have ended in deep recession or even depression.
(4) When it comes to monetary policy, both the right (Neoliberals) and the left (progressives) have got it wrong. It is almost impossible to get sensible alternatives into the mix.