Yes agree, its clear now that interest rates are still too low....

Yes agree, its clear now that interest rates are still too low. The Fed stopped too soon and now we seeing the 1970's play out again. Perma bulls arguing interest rate cuts needed to drop inflation - I really am not joking lol. Truth is we need additonal interest rate hikes, because the only thing that will get inflation back to 1 - 2 percent is a deep recession.

Despite what perma bulls claim 3 percent is unsustainable (its basic economics), however 2 years of data based on zero percent interest rates and "unlimited" spending have convinced them and the fact they trapped as bag holders that it is. What bulls need to learn is that the Fed's 2 percent target isn't a minimum target its a maximum target for inflation.

Meaning they want inflation around 1 - 2 percent, a far cry from 3 percent hehehe. This has taken rate cuts off the table IMO but has put potential rate hikes on the table. Good luck all.

P.S. I expect inflation revisions to push the CPI figure higher this time as they usually do. Looks to me like inflation about to become a major issue for markets again over the coming months.