We are heading into the most telegraphed recession in American history. Federal Reserve Chair Jay Powell said it himself last month:
“As rates go higher, it’s hard to see a soft landing.”
Gee Jay, no kidding. Your Fed is squeezing us directly into a slowdown with these short-term rate hikes and balance sheet drawdowns.
Now I’m not saying it’s the wrong move, Jay. You printed a lot of money in 2020—so much that we fell way behind the inflation curve in 2021. Economic indicators and price numbers are still running hot.
So I’m not surprised to see your feet on the breaks for most of the year.… Read more