Fed Chairman Jay Powell is taking a midterm election knee for the Democrats.
The Fed should have started quarter point (0.25%) increases six months ago.
Instead, Powell will wait another two months just for the first increase.
He will do a maximum of three quarter point increases before the midterm election.
Those three rate increases will have limited impact on interest rates, and, most important, almost no negative impact on the economy before the November 2022 election.
This whole thing feels like Greenspan - 2000-ish...