What Hath The FERAL Reserve Wrought?

The FERAL Reserve needs to answer the Clue Phone, as it is ringing louder than ever.  The stock market is crashing, and the Sahm Rule recession indicator is currently flashing red.  The broader economy itself is not crashing--yet--but at least a mild recession seems to be already baked into the cake at this point.  

The Fed's overzealous crusade against inflation has ultimately jumped the proverbial shark a while ago.  They hiked interest rates too high and stubbornly kept them too high for too long, creating a stagflationary quagmire as a result.  Inflation began to fall on its own once the pandemic-induced global supply chain crisis was resolved, and also the geopolitical issues abroad (war, sanctions, etc.) were less intense for the USA than initially thought, no thanks to the interest rate hikes, which only deepened the quagmire in the long run. 

We have been saying for a while now, and will say it again:  the Fed absolutely MUST cut interest rates yesterday, full stop.  An emergency rate cut of 100 basis points (aka one full percentage point) is clearly indicated for this situation to prevent the worst case scenario from unfolding.   

Don't say we didn't warn you!

UPDATE:  Looks like the stock market has recovered from the correction for now.  But our point still stands regardless.  And inflation is basically defeated for the time being.  Cut interest rates NOW!