by Paul Craig Roberts, Paul Craig Roberts:

The Federal Reserve decided it had not wiped out enough banks and again raised interest rates, thereby pushing more banks toward insolvency. 

The goofs think, or pretend to think, that too many Americans are working, making and spending too much money, and causing inflation despite the obvious fact that the rise in prices is due to the lockdowns and sanctions which busted up supply chains and reduced supply.  

The quickest and surest way to reduce prices is to remove the sanctions and repair the Nord Stream pipelines.  Putting people out of work by pushing the economy toward recession reduces supply and will add to price pressures.