The stock market sees what we see -- inflation in the 8-20% range (depending on how you calculate it) and a Federal Reserve that sits at less than 1%, having done nothing for 7 months now after recognizing that inflation was not "transitory." All they have done is "jaw bone," which has actually caused more chaos.
They are so far behind the curve that profits are either going to get squeezed, with consumers also running out of money, or interest rates will have to soar, which tanks valuations. There's no free lunch after you've been feasting for more than a year and doing nothing but making all of the problems worse.
The so-called "soft landing" is one that protects assets prices at the expense of consumers and, of course, most of all, people on fixed incomes.
This is so bad that I really do liken it to a communist takeover. When government willingly and purposely does the wrong thing against the will of the public strong descriptive language is in order. They are catering to a fringe element and wrecking our republic in the process.