The latest federal reserve meeting confirmed that inflation was indeed out of control and that there would most certainly be more pain ahead of us. Here are some key quotes which summarize the situation:

“We have got to get inflation behind us,” Mr. Powell said during his post-meeting news conference. “I wish there were a painless way to do that; there isn’t.” The Fed Intensifies Its Battle Against Inflation

Powell warned in a speech last month that the Fed’s moves will “bring some pain” to households and businesses. And he added that the central bank’s commitment to bringing inflation back down to its 2% target was “unconditional.” Powell’s stark message: Inflation fight may cause recession

We are looking at difficult days ahead where even traditional value stocks may struggle in a recessionary environment. As such, in my opinion, portfolios (or at least a fraction of our portfolios) should always be kept dynamic....