In the 80's, the stubborn inflation rolled in and caused the Fed to raise interest rates at full force. And the reason for the inflation rollover was that when it saw the cpi drop, it started to cut interest rates. Now the Fed will certainly not make the same mistake. Interest rates above 4.5 are expected to be the norm (by the end of '23), and QE tapering will continue steadily until there is a capital panic (gold falls below its previous low) and then a recessionary rate cut (asset prices gradually bottom out) before the economy goes into recession. The process will be repetitive, there will be no unilateral market. Personal view of the recession, recession is difficult to avoid. To put it bluntly this is an economic cycle, this is unavoidable, the so-called soft landing on the recession