The top 40% are unbelievably flush with cash and the job market is strong as ever (bloated tech companies don't count, their value was solely promises anyway).
The fed is fighting to undo the QE it over did during the pandemic
The fed is fighting to undo the QE it over did during the pandemic
https://fred.stlouisfed.org/series/WSHOSHO
Why would they even try to undo 14 years of asset purchases? Their goal is only to reduce the growth in nominal spending in the economy so that it grows at around 4% annually (yielding an inflation rate of 2%). The goal is not to return nominal spending back to where it was in 2008, which would involve nearly a 50% cut from current levels.