Are we forgetting jacksonhole hyper hawk speech was literally 2 and a half months ago?

He said verbatim: “PAIN AND SUFFERING for the consumer and small businesses.” “20% drop in housing market.” Etc etc. HYPER HAWK.

Have we seen pain and suffering? No, the consumer is holding strong. The consumer doesn’t give a fuck right now. We give a fuck because we are paying attention, but your average 95% of Americans don’t change spending habits until it’s glaringly obviously bad.

More pain to come, 75 bps rate hike with NO change on terminal rate guidance.