Market priced out the .25% hike for next week, if the Village Idiot sticks to his guns (which he should) then the market tanks next Wed because they need to price it back in and adjust portfolios accordingly.
The problem here is that we're dealing with a complete idiot, so chances are high that he won't do what he needs to do. Tanking the market is part of what's necessary to control inflation, even if it means more banks go under. Failure to do so will lead to uncontrolled inflation which will necessitate even higher interest rates which means even more banks will go under. Basically it's pain now or more pain later, and Simple Jack Powell isn't smart enough to understand that.
Just imagine, if he doesn't get inflation under control now and it goes into the teens like the 70's, and he has to slowly raise rates over 10%.... then you figure we'll really have an 80's S&L crisis except with larger regional banks this time.
The damage was done when they did COVID QE, I said it when they did it. The Fed members are older than I am (51 years old), they should all know better since they lived through the 80's S&L crisis. The idiots were all too busy snorting coke while working for investment firms apparently.
Remember when he said "transitory inflation"? LOL, Pepperidge Farms remembers.
The problem here is that we're dealing with a complete idiot, so chances are high that he won't do what he needs to do. Tanking the market is part of what's necessary to control inflation, even if it means more banks go under. Failure to do so will lead to uncontrolled inflation which will necessitate even higher interest rates which means even more banks will go under. Basically it's pain now or more pain later, and Simple Jack Powell isn't smart enough to understand that.
Just imagine, if he doesn't get inflation under control now and it goes into the teens like the 70's, and he has to slowly raise rates over 10%.... then you figure we'll really have an 80's S&L crisis except with larger regional banks this time.
The damage was done when they did COVID QE, I said it when they did it. The Fed members are older than I am (51 years old), they should all know better since they lived through the 80's S&L crisis. The idiots were all too busy snorting coke while working for investment firms apparently.
Remember when he said "transitory inflation"? LOL, Pepperidge Farms remembers.