The old mantra, " that the FED will keep tightening till they...

The old mantra, " that the FED will keep tightening till they break something " appears to be happening again, in an eerily similar fashion to the lead up to the GFC. The problem is that the effect of interest rate rises lags - people don't realise the ice melting below them till the cracks appear.
There are many who are still cruising on government handouts during 2021, and the extraordinary low unemployment rate combined with the low participation rate and underemployment is cognitive dissonance thats not getting enough notice.
There's a tidal wave of fixed interest rate mortgage resets looming thats going to badly hurt the marginal borrowers. While have sympathy for their dilemma at one level, these borrowers never shed a tear for savers getting negative interest rates (zero interest + inflation adjustment).
So, Is suspect that the heavies on Wall St have agreed once again to let the FED rock the boat, and they'll step an clean up buying ultra cheap assets again, backed by FED easy credit.
What assets will survive and thrive? = income earners like efficient profitable commodity miners including gold.
If the FED follows the example of Paul Volker, who broke inflation in the early 1980's, then interest rates have to rise to inflation + 2% .... NOT going to happen. The Fed will relent sooner than people expect - so stay solvent and hold (only) quality stocks and assets while other's SHTF.