Yep. It's only going to get worse before it gets better, but that's necessary to change the political situation — that's the real "medicine" that we're taking here.
People will only wake up when the economy really hurts. That's why they voted for 47 in the first place, so I hope they're even more awake now.
A certain cohort of the population ignores logic and reason, and runs on vibes and tribalism. They will only understand economic pain, when it hurts them personally, based on the evidence. And so, the rest of the world must incur economic pain in the US so the electorate understands its place in the economic system.