The S&P futures market is net-short approaching the levels of late 2007. Rising rates are linked to recessions, both soft and hard.

https://kingworldnews.com/the-world-is-about-to-see-serious-deflation-followed-by-massive-inflationary-money-printing/

Powell can re-define recessions with words, but despite his double speak, he too knows that a recession is already underway. As for recessions, the data is equally abundant that those rising rates tend to correlate directly with recessions, both soft and hard

Source: https://kingworldnews.com/the-world-is-about-to-see-serious-deflation-followed-by-massive-inflationary-money-printing/

h/t BoatSurfer600