When demand goes down (in this case due to rising rates) Rates are rising because of inflation. Inflation is rising because people are spending. Why are peopl

When demand goes down (in this case due to rising rates) Rates are rising because of inflation. Inflation is rising because people are spending. Why are people spending all at once? It could be because of the pandemic restrictions lifting, but also because of mass psychology ("OMG! everything is getting more expensive! I must buy while I can"). If people resisted the bandwagon effect, and bought when stuff is cheap, while saving when stuff is expensive, they'd be much better off. "The time to buy is when there's blood in the streets." - Baron Rothschild