The fact that the Fed was claiming inflation as transitory last year makes me believe they are either overconfident / arrogant in their abilities or thinks the American public is stupid. Or just political puppets and not as detached from the government as they should be.

Previously I thought the Fed would go back to their old ways and lower interest rates at some point in 2023 when things get bad. After watching Powell's speech though, I don't think they will start lowering rates until 2024.

Lastly, our economy is now a boom / bust economy. Especially with the stock and labor markets. I wonder what percentage of that is natural and how much is Fed induced.