is putting rates so as to have some ammo to fight the coming recession. Once it hits they will lower FF to zero.
That will be the eye of hurricane.
Right now we are just getting to the front end of it.
The leading edge is the coming consumer recession. Folks just don't have the money to pump in anymore. Rich folk don't understand this yet, but on the back end of the hurricane front they will realize they are the bagholders for the debt.
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