The Fed Are Playing a Very Dangerous Game

The fed is playing a very dangerous game, because we do have rising inflation expectations. And i think it's one of the reasons why the fed has been pivoting so hard. The states are still sitting on money from the prior from the hand outs that they got earlier this year. They're still working through how to spend them. It sothe's plenty of money. We've got an infer structure stimulus package working through and beginning of 20 rd which will start adding about $1trn per year. When you fire one of the barrels, fiscal a all monetary, not really that much relationship. But when you pull both triggers, particularly with a certain degree of ferocity, then