[DrVenture]

Cumulative inflation from Oct 2020 (4 years) is closer to 20%. Wage growth has been about 7-8% annually in the same period. It has eclipsed inflation. SS has seen about a 21% increase.

Personally, I think Powell is fucking giddy! I would be. And I'd bet he knows that he has been handed a historic opportunity, for a man in his position. Now, had he raised rates to 5.5% and inflation didn't budge, he might be feeling some pressure. I spent my whole career embroiled in "crisis management", often working without a net and spinning plates, while juggling chainsaws. People who stick around in positions like that, enjoy the challenge.

The S&P nominal total return since September 2019 is around 103%, with dividends reinvested. If one believes it is all going to come crashing down, they could make an exit right now and come out way ahead. Everything else is just noise.