Powayseller: I think the “make sense part” has to to with two things; Fiscal policy and Monetary policy.
Greenspan gave the Japanese economy a free ride on our T-bills for several years. Japans 0% interest rate made it advantageous to invest in the US market (T-bill = No Risk). Now fast forward to now, and 15 rate increases and the 30 year bond rate jumped only 1/2 a point? Its not suppose to work that way. Quite possibly, they are pushing on a string.
Now take Fisical policy, the war in Iran, the budget,the aging baby boomers health care, Social Security that is not funded and you get a real mess.
Congress is saying “Drinks for everyone,” and the Fed is saying “Whoa.” This might sound biased (take it for what its worth) your congressman wants to get reelected, facing reality could kibosh that.
With the two conflicting operators Monetary vs Fiscal, there is no-one out there that can run any sort of cohesive coalition.
