A 40-year-old female patient is admitted to the emergency department after experiencing a severe asthma attack. Despite receiving albuterol via nebulization, she continues to struggle with labored breathing, a respiratory rate of 32 breaths per minute, and use of accessory muscles. Her oxygen saturation is 88% on room air. The healthcare provider orders a dose of corticosteroids to help reduce inflammation.

In the process of assessing her needs, the healthcare team must rapidly intervene to ensure adequate oxygenation. You observe that the patient's arterial blood gas (ABG) results indicate a pH of 7.32, a partial pressure of carbon dioxide (PaCO2) of 55 mmHg, and a partial pressure of oxygen (PaO2) of 58 mmHg.

Given the ABG values and the clinical presentation, fill in the blank: The patient is experiencing _________ due to respiratory failure and should be closely monitored for potential complications.