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Message: <blockquote data-quote="Up In Smoke" data-source="post: 5771259" data-attributes="member: 79702"><p>Inflation was a concern in 2018, as Powell continued to raise rates following the tax and jobs act.  The economy struggled and the markets moved down 25% in late 2018.  The government shutdown coincided with the weakening economy so the Fed reversed course and again began to lower rates and buy treasuries in early 2019.  In late 2019 the 2s and 10s inverted, which is a precursor to a recession.  Covid hit in early 2020 so we have no idea how the economy and the Fed moves would have turned out.  Inflation outpaced wages for the first time in March of 2021 as the Biden stimulus package was nearing it's passing in mid March.  It's true, the added stimulus accelerated inflation and forced the Fed to move quickly and more aggressively in late 22 into 23 until the pauses of the last 3 months.</p></blockquote><p></p>