The FED has repeatedly shown it has an agenda, despite it’s nonsensical claims that it is data dependent. For almost a year it was obvious to anyone who looked at the “data”  that the threat was from future inflation (not transitory) rather than any weakness in employment. Now for at least six months it has been clear that the FED has tightened too much and too fast when all the data (except the administration’s phony job numbers) shows the economy has rolled over and is in a recession. Bank failures and stresses in the financial system are just the latest evidence. So the FED’s empty claims that they are data dependent are total nonsense. They have zero credibility left. They have an agenda, and while we are not exactly sure what it is(most likely an attempt to force a CBDC upon us) there is no doubt that fighting inflation is just another of their BS narratives. You don’t get to destroy 99% of the purchasing power of the dollar over the last 40-50 years and then claim you are committed to fighting inflation. That ship sailed long ago.