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I don't know much about finance and have never worked in banking but anyone more than 40 years old should know that fed rates can go into double digits. It's not like a black swan. It's happened before so I'm a bit surprised people are so shocked by the feds moves.

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Not taking the side, but there is a strong belief that the fed can't raise rates much more as it needs to inflate away a large portion of debt to get the economy back on track. It's unlikely we will see a volcker economy halting maneuver anytime soon.

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