We're in a depression. The "wiki" definition may not say so, and we may not have reached it yet by the actual definition, but we are. Whenever the statement is made is not when it begins. Not being a negative Nancy here, but I see all indicators and work in a field that shows me firsthand on a daily basis. We have cattle farmers selling off their cattle. Hay farmers going out of business. Anything with protein like tubs, grain, etc. has skyrocketed.
Inflation is out of control. You raise interest rates when the economy is kicking ass to slow growth before it gets out of control. They've raised rates, what, 3 times already? Inflation just hit 9.1%. People are running out of disposable income and using savings just to buy fuel and food. They're letting cattle graze on what's growing in the fields.....and since chems and fertilizer have SKYROCKETED weeds are more expensive to control as well as it being more expensive to get the right nutrients to the forage grasses. We could take BOTH chambers in Congress but the damage has been done. They could pass whatever they want; it'll just be vetoed by whomever is controlling Biden, and let's not even pretend that dementia-ridden old, unaccomplished FOOL, is making his own decisions. Now they're trying to pass even more spending, MANCHIN INCLUDED. They'll have to print even more money.
This will not correct itself. Markets go up and down. That's the natural process. This BS is self-caused. Trump is the only one who can fix this. Sorry, it is what it is and this is just my opinion. I'm all about Ron DeSantis as a Floridian, but Trump knows business. We're in for some hard times. I honestly think whoever's handling Biden wants this country destroyed and our economy gutted to usher in socialism.