It’s too early to speculate on a Fed policy shift.

The biggest problem right now is that the market is fighting the Fed. The latest economic forecasts show a median interest rate expectation of 5.1% at the end of next year, and no rate cuts before 2024. Even so, investors are still betting that the Fed will only raise interest rates to a peak of about 4.85% in 2023, and then quickly turn around and cut interest rates by 50 basis points by the end of next year.

If you believe in the saying "don't fight the Fed", then you can take advantage of the current price error to trade.