On today’s inflation report for August, it is clear that The Fed has failed to cool off US inflation, meaning that MOAR QT is on the way.
The NASDAQ composite index plunged -3.85% after The Fed’s failure was released.
The Dow was down “just” -2.70% today. But things are red all over in Europe where they too are failing to tame inflation.
The Fed is probably singing “Give me some quantitative tightening!”
The likelihood of further rate increases just rose to over 4% for the December FOMC meeting.
Jay and The Statists At The Fed!
Pain is coming!