Commentary  The current Fed Chair Jerome Powell is perhaps best known for his quick pivots from hawkish back to dovish and vice versa. Maybe he is just too dependent on the prevailing winds of the current economic data. Or, perhaps more accurately, he is most swayed by the performance of the stock market. In either case, Powell received more reasons to become hawkish just one day following his already hawkish FOMC press conference. The Bureau of Economic Analysis reported Q4 2021 GDP growth at a 6.9 percent SAAR. This is a big problem for the Fed, since it falsely believes inflation comes from an economy that is growing too fast. Add in the 7 percent CPI print for December, and you have a Fed that now understands it is far behind the inflation curve and it’s time to pivot towards an even tighter monetary policy stance. Nevertheless, the FOMC fails …