"I don't believe that the Fed or Jerome Powell believe their projections. From the equity market perspective, it looks like the dot com era. However, there was no cryptocurrency market back then," says Bob Iaccino. Is the cryptocurrency effect similar to non-profitable tech over 20 years ago? Jerome Powell stated that we at the Fed understand the hardship that high inflation is causing. He also said that the labor market is extremely tight and inflation is much too high. "Gold has been below the 1800 level twice since February 2022. In the same time, bitcoin lost over 50% of its value," Iaccino adds.