The big takeaway from the Fed meeting in Jackson Hole, Wyoming—in person this time after two years of staying home and staying safe—was that the Fed is serious about stopping inflation. The message to the media was firm and unified. There will be no stopping this Fed until the target of 2 percent is reached and stabilized. Jerome Powell went so far as to push a single word to summarize what’s about to happen: pain.
Yikes! It’s not as if the Fed is promising to take away the punch bowl from the party. There is no party, unless you are a sitting member of Congress attached to the sitting majority. The rest of us have been through years of pain. Now the Fed can only promise more….
Source: The Epoch Times