Main Street Sentiments Agree
"The Fed ... cannot ... ignore a weakening currency."
Uhm... Over the past ~50 years, the dollar has weakened by a factor of roughly 10.
If you're old enough to remember 1972, think back what stuff cost then. A house. A car. A gallon of gas. A loaf of bread. A gallon of milk. An ounce of silver or gold, or a pound of copper.
The Fed is responsible for this incessant decline in the value of the currency. They just don't want it to happen too quickly.
"I feel your pain" should be "I caused your pain."
I remember the Carter Administration vividly.
For me, it was an era of amazing productivity, by necessity.
I was working 25 hours a week at the university library (interlibrary loans-lending), around 55-70 hours a week at one or more night clubs, all while going to pharmacy school full time (my dime)!
Eventually I came down with a massive case of mono, me!
I never got sick, just broken from motorcycle accidents.
The doc sat me down to have a discussion about "burning the candle at both ends" and I said "Doc, don't give me that crap."
He said "I'm not, it is just that you are using a f-cking flame thrower!"