The Impact of Inflation on First Quarter Earnings

I feel like eight months ago, we were talking about what would 2023 look like. And I think we might be there. If we're not this quarter, we'll find it at the next Fed meeting. We saw inflation slow down. But even a company like Amazon, they did over 100 million. Is it really as bad as we thought is my question? Or did we over over try to anticipate something that was going to be extremely negative?