Yeah, that kind of glosses over all of the action taking over the past 2 years which heavily contributed to the current situation. But even if we ignore that they have a problem on their hands - the two main goals of the fed are currently at fundamental odds with each other. They have been injecting money to achieve maximum employment which is at fundamental odds with price stability. If they raise rates to stabilize prices (which they are definitely doing, potentially more than anticipated), that is going to affect employment. So it's going to be a tough balancing act. There is also no guarantee that raising rates will have the effect they desire. It could stagnate the entire economy.

There is a ton of uncertainty and that is really what is driving the craziness in the markets. Over 97% of my portfolio is in fiat and trust me this makes me very uneasy.

The fact that Bitcoin does not have levers is the appeal to a lot of people.