Powell is insane if he doesn’t pause for a moment here and give all of this some time to cycle through the economy, especially after the past week and seeing the impact it’s had on bank assets. JMO. Agree on the new normal/higher inflationary targets. There’s no will in DC to reduce the debt either, so I think that’s the case for new inflation targets and the bulk of these rate increases might stick for a long time. Something’s gotta give somewhere along the way and the longer this goes on with the debt and printing money, we’re not going to like what that give looks like. Going to take a big bite out of everybody.