Contrary to what many people think the Fed doesn’t set interest rates. The short term market sets interest rates. The Fed follows what the market tells them.

If we get a big enough correction in the stock market over the next several weeks and the short term market drops below 70% then the Fed will end, or at least temporarily stop its rate hiking policy.

It looks like stocks, oil and gold are all dropping into ICL’s together although gold should bottom ahead of the rest of the market.