There goes the FED back in our newsfeed...
If I had a nickel every time I read "don't fight the FED", I'd have a pocketful of nickels and would need to deposit them so that I could buy around 0.000074 Bitcoin.
Jerome Powell spoke at Jackson Hole and basically doubled down saying that the FED will be bringing the pain in order to bring down inflation.
They are still shooting for a 2% inflation target but I don't see how we can get back to that low of a level.
Now, that doesn't mean they wont REPORT a 2% inflation target has been reached at some point, but not before some wizardry has been done to their CPI formulas.
The FED is notorious for relaying their core message in between the lines but Powell started his eight minute speech by saying, “my remarks will be shorter, my focus narrower, and my message more direct.”..
Translated to, "buckle up people. Shit is about to get real around here."
Not financial advise but if you wanna dance with the devil, I'm predicting some significant pull backs over the next few months. Sell just about everything and be ready to buy it all back for cheaper when the FED signals a back pedal.
As they attempt to drive the economy off a cliff, we'll have to see if they reach their federal funds target or if they get pressured to slam on the brakes.