The Fed chair and his colleagues want to lift rates expeditiously to a neutral level this year that neither stimulates nor restrains growth -- around 2.5% -- and then slow the pace of tightening.

But in crises, central banks that pause typically lose as the forces they’re battling -- be it spreading financial panic or broadening inflation -- gain more momentum.

A lot of these sentiment indicators seem to just be pointing straight down, sounds like we're in for an ugly Q2.