Jesse Felder on what "don't fight the Fed" really means

There's a fascinating irony right now....  The misconception propping up asset prices is this idea of "don't fight the Fed," that there is no alternative to owning stocks when interest rates are suppressed.  So "don't fight the Fed" means you buy financial assets.  At the same time, the Fed is saying "we're going to do everything in our power to create inflation."  So if you're going to really adopt the "don't fight the Fed" mantra, then you would take them at their word and say "they're biasing for higher inflation," which means financial assets are not the place to be.  It's interesting to me that these misconceptions result in this hyprocrisy. 

~ Jesse Felder, "Diego Parilla on Appreciating the Opportunity Set in 'Antibubbles'," Superinvestors and the Art of Worldly Wisdom podcast, 37:15 mark, April 21, 2021