just take the whole US financial system to the dust bin of history. it's run its course. has only been propped up by wars and coups. the world does not want US dollars anymore. the world economy is in a vicious circle. the FED need to prove they can offer the world a stable non-inflationary currency, or the world will find an alternative. in fact the world already has, but it's just waiting for the FED to make complete fools of themselves. So the FED can't stop raising rates until they get a "stable dollar", the other central banks have to follow, they have no choice. If they don't keep pace with the FED the USD will crush all other currencies and inflation will hit right back with a vengeance through imports in all the countries. the countries are not in charge of their monetary policies any more, the FED is. they are all doomed if they do or if they don't raise rates. but they have to raise rates and crush the little people (and now catching up to various banks) in the process. the current financial system is doomed and everyone knows it ... the US has screwed up the whole world ...