I dont buy the inflation argument. The Fed has been trying for that for 10 years...going through unprecedented easing yet has hit the 2% mandate only a couple time. They parked $13T in the banks vaults and still couldnt get it. We are on two decades without wage growth plus more of the economy is under the laws of IT.

That is a deflationary rate they cannot win against...and I dont think the Fed/Congress is even slightly aware of that. Their tightening is only going to put a foot on the throat of the economy, one which isnt quite as hot as they advertise.