A 100 basis point rise, as in the story, would take it to 2.58, an increase of 63%, which is the draconian kind of thing Cathie Wood likes to dramatize.
But no one understands draconian. In a world of superlatives where everything is awesome, the smallest changes are blown all out of proportion.
Draconian would be raising the rate at least to the level of inflation, now 9.1% year over year (not seasonally adjusted).
Actual draconian is necessary.
But these are not serious people. None of them.
