Fed Governor Waller said in prepared remarks at The Brookings...

Fed Governor Waller said in prepared remarks at The Brookings Institution today:

"When the time is right to begin lowering rates, the rates can and should be lowered methodically and carefully, He added that with economic activity and labor markets in good shape and inflation coming down gradually to 2%, there is no reason to move as quickly or cut as rapidly as in the past.

Which is fed code speak for "we are going to keep rates high until something breaks" just like the other times. So, sounds like we are going to have another GFC - unless Biden starts WW3 first.