Depending on the fate of Sleepy Joe's BBB the market could be very strong, in aggregate, for the next several years. Both the infrastructure bill and the BBB are spread out over 5-10 years. It's too little in my opinion, but nevertheless amounts to a big, demand side stimulus spread out over future years. A lot depends on BBB. Bulls should hope it passes without being watered down much. The market will get nothing but full speed ahead out of a Powell Chairmanship backed by Trump cronies (That's why they are on the Board, to assist Trump's re-election in 2020. That failed, but the board is in place for a long time to come!).
That said, a Powell fed's weak little hikes in 2022 will just produce the volatility that we traders like (assuming of course that BBB passes the Senate). It may not. Then I'm uncertain.
