[woodbutcher1963]

They will keep raising interest rates until unemployment gets to 3.8% or more.

Every since covid, a much larger percentage of the population have more money than they know what to do with. That is why they went out and bought RVs, boats, the decks, hot tubs, and all sorts of other big boy toys and home improvements.

That is slowly coming to an end. As people become unemployed. They stop going out to dinner and spending money on tings they do not need. That is when we will be well into the recession.

Then they will stop raising rates. Flatten out for awhile and eventually start to lower interest rates.

[adorno]

Every since covid, a much larger percentage of the population have more money than they know what to do with.

That money was spent almost immediately and nobody is getting that money anymore.

The reason for higher interest rates is because of inflation, which is not due to higher employment or because of people spending more. Inflation is because of the stupidity of government spending that was and is out of control. And even now, the Biden administration is insisting on a higher credit limit in order to spend even more. Spending may be out of control, but it's not because of people spending their covid money.