>>>Trying to decide whether that means you actually agree with POTUS that rate rises are having an effect on the boom.
>>
>>OF COURSE THEY DO.
>>They sparked the boom and the Fed is trying to moderate it, hence the downturn.
>>With full employment (because of Fed easing), future growth at those rates can only cause inflation.
>
>I agree with that.
>

Thanks to the Fed we haven't had inflation here since the late 1970's, but people who lived those years know the damage it can inflict- especially on retired people trying to live on fixed incomes.
Trying to manage when salaries are increasing at double digit rates is quite a trick.

I saw a Wall Street firm actually run an auction for keypunch operators on the street during that crazy time.
They just kept upping the salary till they hired the number they needed. Of course the ones they hired jumped ship in a few days when they got better offers.