Powell appears not to be satisfied until he's taken the economy into recession. While he's still talks about raises, he admits they're planning reductions next year, but now saying they may be less than originally planned. You would think that if they know they'll be lowering next year they'd avoid further raises is year.
I have a friend who's an economist who generally agrees with me, the FED's targets on inflation should be up a bit, and they could have achieved stability a few raises ago. It's clear that wages in the middle class need to rise, and accepting a little greater inflation will permit that to happen.
Tomorrow should be interesting, while the market generally was down, we were down more than most and hopefully will recover substantially tomorrow.