Yeah, this feels like a nothingburger. Rates have only started coming in line with expectations and corpo gouging is the real problem. No amount of high interest will stop companies charging extortionate rates. Powell has good reason to be cagey as every rate hike tanks the stock market because of the general panic. We finally have lenders and businesses getting the idea that the gravy train of nearly free loans is over.
Both of these things can be true. You can’t discount the rich and their ability to do evil in multiple dimensions with one choice.