and started to raise interest rates — as it will try to do again this year — investors dumped anything risky and markets fell. And every time, the Fed lost its nerve and reversed course. But now, inflation is forcing Powell's hand and the Fed is being forced to tighten the money supply. The result will be a reordering of the economic system and carnage in markets for stocks, bonds, and corporate debt.
Trillions of dollars injected into the system forced investors to chase yield by putting their money in risky assets like shares of unprofitable companies, securitized leveraged loans, and bonds for shady overseas companies. This, in turn, created what Wall Street traders call the".
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