This could have ramifications for years to come if they don't get this right, and the FED in their Monday emergency meeting, doesn't either drop or signal they will halt raising rates. The financial community, businesses nor families have been able, to successfully, adjust to the rapid rise in FED funds rate, in such a compressed amount of time
You say what about inflation? Well even if there is a modest inflation, when people have to pay 25-30% on outstanding CC balances and higher cost for businesses passing along increases due to higher borrowing costs, I'll take my chances with inflation rather than a collapsed financial system.
They should have raised and paused, raised and paused to allow for folks to adjust
