Good point, there's no doubt the trillions gifted & spent during covid is having massive implications now. I think it's also fair to say it was rather obvious to everyone but the FED that the economy was way overheated in '21 and rates should not have been at zero for such an extended period. Yet we kept printing money and they remained that way for a year too long. On the flip side surely these guys are smart enough to realize that reversing & unraveling the accommodative monetary policy we've had for the last 15 years in a matter of a few months was going to create problems. Also, nothing is ever done to address the supply side economics, only the demand side via interest rates as if that will just fix everything.
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