Market has given 3 strong technical signals that the top has been put in…
Ugly tape after the Fed announced…
Household wealth is up, too. It reached a record in the April-June
quarter, although the gain is concentrated largely among the most
affluent.
You don’t say.
Meanwhile, demand-driven inflation might go up someday, so we have to throttle the economy now to prevent that. And tariff-driven inflation is an entirely different beast that should be met with interest-rate easing or stability rather than tightening. (Arthur Burns made this mistake back in '73, and it’s cited as one of the classic stupid things to have done)