This is exactly it. The goal with rising rates is to cool the economy (soft landing vs a crash). That almost always means a rise in unemployment - the late 70

This is exactly it. The goal with rising rates is to cool the economy (soft landing vs a crash). That almost always means a rise in unemployment - the late 70s and early 80s economic crisis played out exactly like this. Despite tech layoffs unemployment still remains relatively low. The hikes are not having the intended effects.