The Fed does the exact same shit it always does. They raise interest rates to discipline labor when it looks like workers have more bargaining power to leverage over profitable businesses. And then they eventually lower interest rates because not doing so would cripple the economy (cuz companies will just downsize, hold their money and not do anything). Inflation has way more to do with energy prices and global supply chains than interest rates.

Waited a month too long and now everything is going to shit. So much for that soft landing.

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