Is the Fed Blinking?

If you think we're headed into recession the first half of the year, you're going to wind up with lower yields eventually. The high end consumer is spending. It's not a total collapse yet. You could have some stabilization as you have two-year yields move higher. What happens first? The Fed blinking or seeing yields get out of control and cause some torpedo effect in the multiple valuations? I don't think the Fed will blink if there's an event.