Do You Think the Fed Is Fighting a Battle They Can't Win?

Do you think the Fed is fighting a battle they can't win here? On one hand, they're going to have to try to raise rates and maybe just make the balance sheet smaller. And traditionally, if you look at any sort of rate-wise, there is some sort of recession there afterwards. But things are still not looking good. Bond yields are still pretty low, valuations are still pretty high. The expected return from 6040 is essentially zero or a cash of best for an extended period of time.

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