According to Horwitz, the Fed was wrong from the beginning in its attempts to fight inflation. He believes that the central bank has long missed the window of opportunity for such an aggressive rate hike strategy. Moreover, he believes that Fed decisions are rarely what the American people want: “We have so many problems: inflation, we will have food shortages, the dollar is constantly being manipulated downward ..... Looking at the big picture , then the participation of the Fed is now indispensable.
Horwitz expects the market to crash. The results of the November 8th midterm elections will not be enough to prevent the collapse of the financial markets: "The damage that has been done will not be repaired by elections alone..... Over the next 12-18 months, I think we will be at 50-60% below current levels."