The Refinance Crisis, Is It a Thing of the Past?

The rapid rise of interest rates is at least for a short term, proves that that argument that you can raise can be high for a while. Last year was the year bonds behaving badly and we had the worst bond sell-ups since the late 1700s. The true growth shock is still ahead of us and I think we have to be prepared for that. You know, I don't want to be too bearish right here and back end of last year I was going, this is the sort of recession which might need the Fed to push us into recession by surprising people with higher rates. We see why maybe it's a little bit surprising to hear Jay Powell not bothered about the loosening

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