We have complained about him for years. We knew something was up when he turned tail Christmas of 2018 but his announcement of money printing October of 2019 before covid and while GDP and unemployment was in the 3s had us screaming. Jay Powell then played God with markets in ways unimaginable taking rates to 0% and printing to a whopping $9 trillion. He caused massive distortions of price and yield, enabled massive bubbles that have all popped and popped badly, created the widest wealth inequality in our history, screwed savers, enabled massive debt and deficits, enabled zombie companies, caused the inflation, never saw it coming, when it hit, said it was transitory AND NOW he is playing God the other way. To think that one man still believes he can control a $40 trillion market and a $20 trillion economy would be laughable if it wasn’t so sad. He and his buddies have been wrong 100% of the time and looks like that will continue. In the end, the free market is a ton smarter than these people. They refuse to listen to the free markets. Unfortunately, we now get to see how far they go the other way. We do not think they even know the monster they created. Think about this. Real yields are plunging while they are now still raising. Real yields are telling them a story yet they are still not listening. They did not matter in the past year as real yields took over. They now matter as they are now above real yields and promise to raise even more. The same people who caused the problems are still at the helm and they again are going the wrong way. We’ll say it for the 1000th time. These central bankers only do harm. We have no idea how they became the most powerful people on earth with no accountability or oversight with the ability to print to $9 trillion to do their bidding. They need to be shut down. The free markets and the American people would be much better off without them. Unfortunately, wishful thinking.