Maybe the goal isn't to control inflation via high interest offering an alternative like volcker did the total debtload will simply not allow that without totally crashing the system
the game plan is to try and create a medium sized dump in the markets so demand destruction and fear and panic will lower inflation, killing the velocity of money
and if that doesn't convince you simply look back to late 2018 back then the economy was running well enough no end of the world problems were emerging
yet after rates went above 200 bp all hell started to break lose and jpow had to quickly go back to zero
then know that today into a doomsday economy we are hiking at about 3x the rate as back then, so yeah they will crash the markets on retail by design?
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