Barons - What's the Risk of Version of 2022?

At barons we've been struck by the markets resilience in the face of a strong economy. The likelihood that the Fed is going to have to hike rates beyond what many people have been expecting and as you say keep them high for a long period of time. So I'm going to ask Ben and Tom why has the market been fighting the Fed and how do you think this tension will be resolved? Ben, we haven't heard from you yet. You can go first.