Yes this is another instance of the financial tail wagging the economic dog. Our economy has become completely over-financialized, and in this situation the fe

Yes this is another instance of the financial tail wagging the economic dog. Our economy has become completely over-financialized, and in this situation the fed have decided that inflation needs to be contained, and are inducing a recession to do it. They can do this quite reliably because of the level of financialization, companies are in debt to the hilt even if they don't need to be (it's because shareholder value), etc.