For the last 20 years, the financial system learned how to throw these tantrums to reduce rates back down. Inflation numbers were also fudged. Financialization

For the last 20 years, the financial system learned how to throw these tantrums to reduce rates back down. Inflation numbers were also fudged. Financialization is successfully holding everyone hostage. Even before COVID in 2019 the Fed had given in to another tantrum. Today it is VCs tantrum. It's actually ridiculous. We've reached the point where the riskiest sector in the financial system gets to cry and get rewarded for bad behavior and self destruction. This isn't a problem of a strong Fed in control choosing what to do. It's a problem of a spineless Fed that gives in to manipulation. It isn't a problem of central banks manipulating, but being manipulated. Once the financial system realized it's in their own interests to be fragile, it was game over. They will keep on holding everyone hostage. Unless we figure out how to rescue the hostages without paying the kidnappers, this will continue happening.