yes. 8% inflation is too high for the united states economy. and the only way to get rid of it is to increase interest rates. there will be a deep, deep political argument over whether or not the biden stimulus package, which was introduced when the administration took office, was too much, too rich, too frothy, and basically poured gasoline on flames. a survey that tracks consumer confidence, how optimistic or pessimistic consumers are regarding the economy, regarding the labor market, that was released today for the month of may. and while it is not as low as was expected, it s still down for the second consecutive month. plans to buy appliances, homes, cars, all decline from the previous month. what does that tell you? it tells me americans are worried. there s the anxiety that the president talked about. and for good reason. it s estimated $5 trillion has been wiped off retirement