Is the Federal Reserve Really Committed?

The bond market is saying the fed can hike about, you know, maybe two more percentage points. And then it's going to have to stop, and hen may be cut in 20 24. In an over levered economy, just as a reminder, private debt plus public debt to g d p isn't the right denominator. So when you tightened and you increase the borrowing cost for the new marginal buyer, and his wage hasn't gone up, i'm sorry, but things don't square any more.