I don’t think he realizes the Fed is no longer in control of rates. The 2 yr is still trading almost 1% above the fed funds rate after the hike. They need 4 more raises just to match the market. Rates are high because of debt and deficits AND a strong economy.

Although we read a lot of doom and gloom, the August retail sales number released today was strong and represents 6% year over year growth and it’s not just fuel related inflation. The consumer is still spending and rates apparently need to go much higher to fight inflation.

Last edited by Double Creek2; 09/16/26 08:30 PM.
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