The US financial environment is so loose that it is the same as before the interest rate hike cycle began?

Observing the trend of the St. Louis Fed Financial Stress Index, it can be found that the overall financial situation in the United States has returned to the level of March 2022, that is, it has become as loose as before the Fed started to raise interest rates. In other words, the Fed seems to need to raise interest rates further to get inflation back to the Fed's 2% inflation target.

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