> The fed has been pumping cheap money into the system since 2008 to prop up the values of the housing market and the stock market, which is where the majority

> The fed has been pumping cheap money into the system since 2008 to prop up the values of the housing market and the stock market, which is where the majority of Americans have parked their wealth. Now the chickens have come home to roost I doubt the Fed can follow through here to their mandate of keeping inflation under check. In response to a 8.5% inflation, they are raising rates by how much? 2%? Based on 10Y/2Y yields, the market seems to have priced in rates rise to 2-3% and then come back down either because of Fed starting back again QE or recession and subsequent QE. Either way a recession is impending and this time with Fed actively seeking the landing (soft or hard doesn’t matter, the economy is too much into debt to handle the shock) and with that goes their maximum unemployment mandate. My thesis is after this episode of Fed Won’t have any validity to their existence. Inflation keeps chugging along, and with the rate raises they actively cause a recession. And those are the two mandates they have - price stability and unemployment.