The Fed's Inflation Rates

The last time we had inflation this high in the economy, it was 13%. That is a huge difference. We've just gotten so used to these abnormally low interest rates that even the mere sort of talk of another quarter of a percentage point has the market in jitters. And I think one other headline, which perhaps wasn't nearly as big as the ones you just highlighted, was we saw a yield curve inversion at the front end of the spectrum for the first time. So if history is any guide, then that may be the indicator that we're going to get a recession at some point.