The Nasdaq 100 faces a critical pivot point as a break below the 24,000 level could trigger a sharp flush toward 22,000. Upcoming futures rollovers and March expirations are poised to drive volatility amidst shifting gamma positioning.

Fiscal stimulus fueled post-Covid inflation, but the Federal Reserve's failure to offset expansionary policy was the primary driver. Evidence shows that monetary policy dominance determines whether budget deficits result in lasting price increases.