It's what I've been saying here for a long time. The Fed can do little to increase the inflation-adjusted S&P through monetary policy. If they tighten sufficiently to control inflation stocks go down. If they let inflation run then stock valuations may hold but the dividends and sales of stock buy less. You can't print wealth.
It's all about effective policy to get people working and innovating -- the generation of REAL WEALTH -- something the Democrats have not been doing with their pandering stay-at-home, woke, border, energy, and crime policies.
Now due to their incompetence on the international stage we'll have to spend even more on defense and energy. Terrific. More inflationary pressure.