Market is like a spoiled idiot, who believes everything must be bowed to his or her will (BTW is there a female idiot?).
Jerome Powell, on the other hand, is a doting idiot who waited too long to raise the rates. Had he started much earlier with smaller incremental hikes, he would not have had to take such a drastic steps.
But then again, it ain't just Powell. All the previous Fed chairman (and woman) are all idiots. They're like moving averages on a chart, very much behind the price curve, always reacting but never able to forecast what's to happen.
