Charles Payne expresses deep concern that the Fed's stated goal of raising unemployment, stopping wage growth, and 'breaking things' will have devastating consequences for Main Street America beyond just markets

ISM prices paid component has fallen at a pace over the past 9 months that has only been matched twice in history—in 1975 and during the Great Financial Crisis—indicating a rapid shift toward disinflation that historically precedes recession.

Transportation and warehousing job quits have jumped from 2.9% to 3.9% in the past month as companies like Amazon and FedEx cancel contracts and cut back on plans, signaling that the labor force transition from low-paying leisure and retail jobs to higher-paying transportation jobs will break quickly, accelerating recession.