: This is nonsense. Listen to Powell [1] himself (emphasis added): > So in principle, it seems as though, by moderating demand, we could see vacancies come do

: This is nonsense. Listen to Powell [1] himself (emphasis added): > So in principle, it seems as though, by moderating demand, we could see vacancies come down, and as a result—and they could come down fairly significantly and I think put supply and demand at least closer together than they are, and that that would give us a chance to have lower—to get inflation—to get wages down and then get inflation down without having to slow the economy and have a recession and have unemployment rise materially. So there’s a path to that. Back to you: > Raising rates reduces aggregate demand in fairly direct ways, e.g. through home construction and renovation Because if there's one thing we need it's less home construction. [1]: https://www.wsj.com/articles/transcript-fed-chief-powells-postmeeting-press-conference-11651696613 https://www.wsj.com/articles/transcript-fed-chief-powells-po...