Sometime by summer, the realization will dawn that the super stretched stock multiples are wildly divergent from the reality of flat to low profit and revenue growth and stagnant GDP growth.
The Fed/deficit spending super stretching multiples to historic levels is the single achievement (other than nascent fascism) of this administration, so Dennison will attack and/or remove Jerry Powell.
They don't think this far ahead but soon they'll realize they need to be scanning the Bureau of Prisons database to find the most accomplished counterfeiter available (a qualitative improvement for this Admin) and get the presses cranking before the election.
Or alternatively, Jerry might just decide he'd like to keep his job.
Re: a prediction
Preferably on a counter, not pro-cyclical basis.
And for the purpose of advancing the interests of our blighted nation, as opposed to the uber wealthy, defense industry, contractors and such.*
A very broad number of "things" would be better at this moment if Dennison had just spent all of his time- rather than half- playing golf.