I think there are a few layers here. First of all, the Fed is clearly behind the curve. And their credibility has been damaged by what has happened with inflation and the monetary policy response over the last few months.
On Black Monday, the Dow Jones Industrial Average in the US plunged 22.6% – the steepest one-day percentage drop in its history. The selloff was
Brent futures declined $2.28, or 3.5%, to $63.30 a barrel at 0049 GMT, while U.S. West Texas Intermediate crude futures lost $2.20, or 3.6%, to
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