It has been a long while since the US experienced a cleansing/disruptive recession.  Stocks remain overvalued by traditional measures.

Frankly, I think the Fed is clueless about what to do about inflation.  Raising interest rates in worsening supply chain issues is not the solution.  It adds fuel to the fire. 

IMO, do not hold paper now or anything else that can burn. 

VP in AZ