The Fed isnt in control anyway.

And for their talk about reducing demand, it is already in operation. These numbers are from Q1, before the Fed even raised the rates.

Plus, the bond market is what drives the Fed, not the other way around. It will tell us when Fed policy is failed, which is it. The Fed was right with their initial claim that inflation was transitory (people need to understand what that means and the timeframe). Of course, they turned political now and are backed into another corner (they put themselves there).

So I predict there will be a reversal by the end of the year. The Fed is going to realize the mistake it made.

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