Your take is not off base. If the economy hasnt slowed because of the hike in rates, that means inflation could easily spike again (as it did in the 70’s). Th

Your take is not off base. If the economy hasnt slowed because of the hike in rates, that means inflation could easily spike again (as it did in the 70’s). That means more hikes, potentially pushing future profits down. The stock market isnt priced for what happening today, its priced for what the market thinks will happen.