The US Economy Would Have a Religious Experience as Rates Go Up

"What happens if they really got tough on inflation and pushed that federal funds rate up commensurate with the level of inflation? Even by their bogus 8.5% CPI number, you put in the federal funds rate to 9%. You're going to see mortgages at 15% and 16%, " he said. 'I think it becomes something much more serious than a buzz phrase as a religious experience'