Ann: Change in substantial holding, page-8

I expect FED will raise 0.5 to 0.75% before it has to pause, before capitulating. New MMT policy they are running requires massive liquidity injections, otherwise the system freezes up. You can't be both providing liquidity and raising rates at the same time, doesn't make sense. Once FED retreats USD will start circling the drain. Silver at US $28.50 will be the signal.
Alternatively if inflation can be bought under control and growth picks up then this scenario can be avoided. With the Ukraine situations impact on Supply Chains, that looks like mission impossible.