You tell us what Powell should have done, you agree with what he’s doing yet you dismiss what he clearly says about beating inflation. 10 / 10 for hindsight but the markets are not about hindsight and there’s no time machine as far as I know so you can’t put your money down.
Once again when the market realises that The Fed wants to take the market down as well as inflation, without completely collapsing the market we’ll see an adjustment. When the Fed raises rates again in Feb it’ll wake everyone out of their slumber and they’ll realise this thing ain’t going away ... more damage.
Employment at record lows is definitely not what the Fed is after, it’s bad for productivity.
Next step on this long journey is a rise in unemployment coupled with record debt (that’s not spoken about anymore) and inflation ... that’s a Recession, it’s actually a Stagflation Debt crisis
The Fed is nowhere near catching inflation.
It took nearly four decades to get interest rates down and you are anticipating a short rise then conveniently back to “normal”. There are many inflationary inputs which are going to be around for a long time plus once the inevitable wage increases take hold it’s nigh on impossible to dislodge.
