At this time, that would be a complete 180 as the Fed's messaging all year has been about how they will be raising rates, even if it means sacrificing markets. On an accelerated timeline, no less, compared to what they had floated in January.
Is the Biden admin asking the Fed to get this over with in time for the election? Quick shock and return to normalcy in an attempt to retain power?
Or is this because they moved too slow and we're heading into something worse than a minor recession?
The fed blames current inflation rates (the highest they've been since the 70s) on all the extra money that is floating around. It is thought that the weird bull market we saw through the end of 2021 was a result of money having nowhere else to go... so when interest rates get raised suddenly other investment vehicles (like bonds) look more lucrative and that money leaves the stock market.