Global tightening is on the way. What can possibly go wrong?
Note that in 2001 it did not take much tightening before a recession started. Then like now, the Fed was positive everything was under control.
Bear in mind, tightening will not cause a recession. Central bank policies for the last eight years will cause the next recession. It should be a doozie for corporate profits and pension plans.
Mike "Mish" Shedlock